Economic Rigor

Running an eye over the Afterpay stock recently. Share price has been on a monster in 2018 (up close to 100%) and so was curious about the fuss. Worth investing in? Hmm.. First, the business. Becoming a company that provides credit risk management services to companies for asset and cash poor Australian millennials seems not the most appealing of choices to be honest. But then, I am just a poor old Gen Xer after all. And it is still pretty much an Australian business. Afterpay Australia has 86% of the Accounts receivable of the entire business. Couple of things smell a bit off to me, based on info in the 2018 Annual report. 1. The company is primarily an Accounts Receivable business (around 77% by Revenue). They are paying the bills of their customer up front and then trying to recoup that expense. So the impairment of that Accounts receivable asset is key to the profitability of the business. At the moment, the total impairment is around 5.9%. When cr...

And so it ends with a wimper. A draw when clearly India was on top. In batting, all the top players were Indian except Harris who clearly seems to be quality. Where has he been hiding. CA Pujara (INDIA) zscore 3.076144162 RR Pant (INDIA) zscore  2.389086583 MS Harris (AUS) zscore  0.812895665 RA Jadeja (India) zscore 0.812895665 MA Agarwal (India) zscore  0.732065362 On the crap batting list, Marsh again appears for the locals. Needs to join his brother I think KL Rahul (INDIA) -0.642049797 SE Marsh (AUS)  -0.662257373 TD Paine (AUS)  -0.7228801 NM Lyon (AUS)  -0.82391798 JJ Bumrah (INDIA) -0.82391798 Mohammed Shami (INDIA) -0.82391798 On the bowling front, for once Bumrah had a quiet one while the new kid Yadav had a blinder. Kuldeep Yadav  (INDIA) 2.240593664 Mohammed Shami (INDIA) 1.233824617 RA Jadeja  (INDIA) 0.788603642 On the shit li...

A bit late on the recaps for this. Been away for Christmas India with the win this time, again on the dual quality of Pujara with the bat, Bumrah with the bowl and the addition of Agarwal who is a bit of a find. Agarwal, statistically had the best z-score with the bat. Here is the list of quality z-scores MA Agarwal (India)   Zscore: 2.19 CA Pujara (INDIA)  Zscore: 1.85 V Kohli (INDIA)  Zscore: 1.16 PJ Cummins (AUS) Zscore: 1.11 RR Pant (INDIA)  Zscore: 0.88 RG Sharma (India) Zscore:0.77 SE Marsh (AUS) Zscore: 0.62 Pretty much says it all. When your best bat is a bowler, you are in all sorts of trouble. On the shit list, we have the usual Finch, who is clearly not TEST calibre, and the regrettable Marsh brother who should be finally banished to the shield. GH Vihari (INDIA)   Zscore: -0.578116636 MR Marsh (AUS)   Zscore: -0.635278731 AJ Finch (AUS)   Zscore: -0.863927108 RA Jadeja (India)   Zscore: -0.9210...