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  1. R.I.P. Chuck Yeager. beyond his service and achievements, just his attitude facing the unknown, his serenity when everything goes wrong and him bouncing back after near death, is an inspiration. Fresh Air: Remembering Chuck Yeager, Pilot Who Broke The Sound Barrier. https://www.npr.org/2020/12/08/944213354/remembering-chuck-yeager-pilot-who-broke-the-sound-barrier I'm going to search for the original interview from 1988. Edit: here it is https://freshairarchive.org/segments/test-pilot-general-chuck-yeager
  2. RMR the worst REIT manager I've seen. Capital allocation is just more assets/debt/equity...management fees.
  3. If Activity 1 is a commodity, then the only potential advantage is lowest cost, with the costs being the SG&A associated with identifying borrowers and underwriting their loans, the capital cost of temporarily warehousing loans prior to selling them on and any transaction costs in doing so. In my mind, a huge funding advantage for money center banks over other capital providers doesn't necessarily mean third parties can't have lower origination costs, which are largely SG&A, rather than capital costs. If money-center banks have a clear lower cost for origination activity, why do third-party originators exist? Are they really only flex capacity that picks up marginal business during good times and collapses during bad times when access to third-party capital dries up? AFAIK BAC doesn't want to originate mortgages to none BAC customers. Money center banks paid tens of billions of dollars in fines and settlements. they simply have too deep of a pocket to make originating mortgages or student loans on a mass scale, lucrative. they know that there'll be a huge price to pay, and it's not priced into the origination margin because they're the designated fall guys. So better not fight for market share and just provide a service to their customers. In some cases keep the loans on BAC's books.
  4. Scott Thank for linking here on the "Berkshire 2018 Annual Meeting" topic. A big little stimulus for paths checking you'd posted here. I think that it's as basic as evolution. only the fittest survive and prosper and in order to be fitter than the next guy, in a changing environment, one has to adapt, get more tool, get rid of these which are obsolete etc.
  5. bennycx, This movie is available to DL on Google search. All the legal and moral caveats apply.
  6. FFXDF is the over-the-counter ticker in US markets; FIH.U is the ticker on the Toronto exchange (TSE). In both cases, they are in US dollars, but the FFXDF trades very infrequently and you can get some wonky prices. In principle, they should have the same value. But you are probably better off to buy the shares on the Toronto exchange if that is possible with your broker, and if not, perhaps put in a limit order for FFXDF with a price that closely matches the value you see for FIH.U. thanks, dartmonkey now it makes sense. I was under the impression that FIH.U trades in CADs.
  7. Hi guys, a longtime holder of FFH looking to invest directly in FIH-U. any reason for the wide gap between FFXDF and FIH-U? +30% thanks
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