DooDiligence

I haven’t been reading this thread in a while so apologies if this has already been discussed. The Fed isn’t printing as much money as you think - Morgan Housel

Overall this call gives a good summary of the business. The only questions asked were by the moderator / Laurentian analyst. Interesting questions & she's pretty easy on the eyes. There was actually one other individual who asked a question, but it was obvious the guy hadn't bothered to read the latest MD&A. The only thing they didn't touch on was currency exchange, which was something I really wanted to hear about. Vachon did talk briefly about the KC Southern + CN deal & mentioned that CN owns a timber treatment plant that they'd be interested in buying if KC deemed it non-core & wanted to sell. Overall, I like the guy, but there again, I wish he would've talked a bit about the $90M hit from currency exchange, especially in light of this statement in the MDA. "The Company is exposed to currency risks due to its export of certain goods manufactured in Canada. The Company strives to mitigate such risks by purchases of raw materials denominated in U.S. dollars for use in its Canadian manufacturing process. The Company may also use foreign exchange forward contracts to hedge contracted net cash inflows and outflows of U.S. dollars. The use of such currency hedges involves specific risks, including the possible default by the other party to the transaction or illiquidity. Given these risks, there is a possibility that the use of hedges may result in losses greater than if hedging had not been used." I'm probably just being cynical but I read the bolded part as "we may experience significant losses because we have a dumbass running our currency hedges." Other than that the video just added color to what @wisowis laid out previously. I like it (despite the sleight problems) & can't understand why there weren't any other analysts on this call. --- On another note; Brian McManus is now the CEO of Uni-Select . edit: forgot to say thanks to @wisowis for the idea.

Same… I use Apple Notes extensively for numerous subjects. Allowing the insertion of images was a game changer for me. iCloud sync works amazingly well across the ecosphere.

I'm betting that WEB role plays a lot of different scenarios & I'm confident in his intuitive competence & luck. Admittedly, it's fun to spitball what's going on in his mind.

Reverse mortgages have gotten a bad rep & in many cases it's well deserved. To me, a legit reverse would be; I'm 80 years old & my savings have been depleted & I need a check to supplement social security, and don't care about leaving an inheritance to anyone. I probably won't need to do this but still include it in my planning.

Couldn't agree more with you & @longlake95 When I look at what passes for risk/reward (in my world), owning my home outright is a great investment. Age ~ investment horizon + risk tolerance - near term cash needs = debt or no debt this will change when I need to supplement cash flows with a legit reverse mortgage at 70 to 75yo +/- (in 11 to 16 years) lots of assumptions regarding health & equity/home value performance. ?

Thread... https://twitter.com/TidefallCapital/status/1403909032377790464?s=20

I disagree. Anecdotally, I’ve been slowly changing to WalMart Great Value products ever since they were packaged white label. Personally I think they should ditch the Great Value mark on the labels & let the designers do their job. I’m a huge peanut butter lover & changing from Jif Extra Crunchy to Great Value was a big step, but now I’ll never go back unless the private label (PL) product price becomes uncompetitive or the quality goes down against national brand (NB). We’ve all noticed how bare the shelves have been since the pandemic began & I’ve further noticed that nationally branded products seem to be less picked over than many of the store brands (here’s a few I go off brand; chips, soft drinks, peanut butter, condiments, frozen pizzas, canned tuna, coffee creamer, canned veggies) & they’re mostly sold to minimal stock levels. This could mean that the national brands are selling better & WM keeps them stocked to meet demand, but I doubt it. There are some categories that simply don’t measure up in PL. Cheese for one. I’ve tried PL product and it’s crap. I also haven’t found replacements for Sweet Baby Rays BBQ sauce, Bon Mamaan Wild Blueberry Jelly, Bernards & locally produced honeys, Mae Ploy Chili Sauce, Sambal Sauce & Sriracha. I’ll also likely remain loyal to my beer, wine & rum favorites. There’s a plethora of articles from a variety of sources & here’s a few that I thought were interesting from different perspectives. https://www.supermarketnews.com/private-label/plma-private-brands-uphold-market-share-despite-pandemic https://cadentcg.com/wp-content/uploads/2019-Private-Label-Industry-Study.pdf https://thedieline.com/blog/2021/3/18/pearlfisher-talks-about-their-work-on-private-label-brand-paperbird-and-its-whimsical-identity? —- I think the pandemic will result in a significant shift to private label.

I haven’t carried a physical wallet in years. Thanks for reminding me to list my small pile of old wallets on eBay. My iPhone wallet takes care of touch-less payments most of the time but I do keep a physical Amazon Chase VISA (paid off every month) & an NFCU debit card (no rewards) in my truck console or pants pocket for when touch-less isn’t available. This is actually the only reason I wear pants.

Zappa was a fascinating guy. I was never a huge fan of his avant garde style but the musicianship was top notch and he was definitely a master composer. I also have a great deal of admiration for his determination to do what he liked with total disregard for commercial success. The “no commercial potential” project did pretty well with ‘We’re Only in it for the Money” and “Lumpy Gravy”, etc. I’d love to be intelligent enough to successfully satirize the left & right like he did.

The comments are as funny as the splainer.

Free for Amazon Kindle. Haven’t read it yet. 4 stars & only one actual review available. “Behavioral finance presented in this book is the second-generation of behavioral finance. The first generation, starting in the early 1980s, largely accepted standard finance’s notion of people’s wants as “rational” wants—restricted to the utilitarian benefits of high returns and low risk. That first generation commonly described people as “irrational”—succumbing to cognitive and emotional errors and misled on their way to their rational wants. The second generation describes people as normal. It begins by acknowledging the full range of people’s normal wants and their benefits—utilitarian, expressive, and emotional—distinguishes normal wants from errors, and offers guidance on using shortcuts and avoiding errors on the way to satisfying normal wants. People’s normal wants include financial security, nurturing children and families, gaining high social status, and staying true to values. People’s normal wants, even more than their cognitive and emotional shortcuts and errors, underlie answers to important questions of finance, including saving and spending, portfolio construction, asset pricing, and market efficiency.” https://www.amazon.com/Behavioral-Finance-Generation-Meir-Statman-ebook/dp/B082DQSMXM/ref=msx_wsirn_v1_5/138-8833024-2003322?pd_rd_w=6PrKr&pf_rd_p=ad02864c-dd1c-47aa-98b9-1e72a1084f6a&pf_rd_r=GRZT942Y6XJZBBE3HRNH&pd_rd_r=39381a27-165a-41fe-82de-167bea481e59&pd_rd_wg=gNfKI&pd_rd_i=B082DQSMXM&psc=1

Who you jivin’ with that cosmic debris?

Does this pass the smell test? ---

100% agree. I wouldn't mind paying $1,000,000 a year in taxes.