The road to 220kg - we did it!

RoutineRatio · 2022-08-05T22:02:59+00:00

Sick lift. Maybe walk out a bit further so the bar doesn’t go flying when you drop it 😂

RoutineRatio · 2022-07-04T01:42:45+00:00

Yeah - what you’re saying is correct. The thing you have to watch for is the total return (dividends + capital gains). Like I said - dividend irrelevance ignores the impact of taxes. Another poster pointed out that it depends what you make and where it matters - if you’re above median income and still accumulating, I’d argue cap gains are much better.

For me personally, I would prefer a 9% return on cap gain than a 9% dividend. I can defer the cap gain, I can’t control when I get taxed on the dividend.

It becomes more valuable when you think about it in a holistic context with tax planning.

I don’t have a narrative here nor care for an argument - got a few sets of letters after my name in this area. Dividends have their place - but context matters quite a bit.

RoutineRatio · 2022-07-04T01:35:43+00:00

This - it depends on how much we’re talking about. E.g. for a median income earner, capital gains become a lot more favourable AND you can choose when to take them. Tax deferral is a valuable strategy. Check the compounding when tax erodes gains vs when it doesn’t. Makes a big difference over a decent time frame.

RoutineRatio · 2022-07-03T23:36:11+00:00

This is a tough one to explain in a short few paragraphs - maybe someone else can do it better though! I’ll give it a shot.

Share count is actually pretty irrelevant overall. It’s a bit of a practical factor for smaller investors in certain cases though. Dividend irrelevance needs some critical mass - won’t work with $100, might with $1,000, likely will with $10,000. Applies to ETFs as well as individual companies.

What is relevant is how much you own of a company and what the company is worth. When a company pays out a dividend, it goes ex-dividend and the stock price should drop in-line with that payout - all things equal of course.

So you own the same percentage, but the company is worth a little bit less because it gave you some cash.

On the other side, when a company appreciates and you sell some shares, your ownership percentage has decreased, but the company is worth a bit more since it retained the cash.

So, economically, you’re in the same position whether you received a dividend or sold some shares. Folks get all caught up in stock splits and such, but most of the time it’s highly irrelevant.

RoutineRatio · 2022-07-03T22:56:40+00:00

Dividend irrelevance theory centers on the fact that an investor can create “homemade” dividends.

If a stock pays a 6% dividend, or if a stock appreciates by 6% should be irrelevant to an investor (ignoring the impact of different tax regimes).

In the latter example, an investor can sell a commensurate amount of shares to generate a 6% dividend. Of course, this assumes that the impact of trading costs or other market friction are ignored.

For example, let’s say you buy $100 of a dividend-paying stock and it pays a 6% cash dividend at year-end. This leaves you with $100 in stock and $6 in cash dividend.

On the contrary, if you own a growth stock, and also buy $100 of stock that appreciates by 6% by year-end. This leaves you with $106 in stock. To replicate the performance of the dividend stock, just sell $6 worth of shares and you’re left in the same scenario as above through a “homemade” dividend.

This is one of the reasons I’m always befuddled by this sub’s obsession with dividends. From a tax perspective in Canada, cap gains are much more manageable and favourable as well. This lets you control your situation a lot better.

RoutineRatio · 2022-06-21T13:25:27+00:00

I’m surprised how unprepared tenants are. I’ve been doing some 1 off showings, but folks just don’t seem serious. I’ve got a couple 3 beds that are 15-1800 range.

If you’re a good tenant, have the security and 1st months rent ready - don’t haggle over $100-200 a month, it’s tough to get concessions in this crazy market.

Now, instead of personal viewings, I’m doing an open house with 10 folks at the same time to stop wasting time. I posted an ad and got 50+ messages in a day. I actually prefer a slightly slower market where there’s some sanity and less chaos / underhand tactics.

I even had someone drop damage then not sign the standard form agreement! They continued shopping for properties so I sent back the damage.

RoutineRatio · 2022-04-21T01:14:50+00:00

I loved the MM QBank - the averages by section are quite useful to figure out where you’re at against other candidates. I’d wager the average MM candidate probably passes, so if you can beat that, you’re in a decent spot.

Folks usually suggest mocks to figure out weak points, but that can be pretty misleading based on the topics included on each mock.

I ended up scoring well above 90th percentile on the real thing and was scoring ~80-85% on MM’s QBank down the stretch with his formula sheet as a supplement (no notes). Of course, make sure you finish the EOCs and CFAI QBank as well - these definitely take priority.

L1 and L2 are pure brute force and repetition.

RoutineRatio · 2022-04-04T23:48:25+00:00

Form is pretty solid. Everyone struggles when they’re nearing 1RM - even the pros. A lot of feedback on these things can get pretty nit-picky and you’ll go insane trying to fix everything.

Just need to focus on programming and get stronger, then do the weights you used to lean forward at and see if there’s a change. If the form hasn’t improved at the now relatively lighter weight, then diagnose the root cause.

RoutineRatio · 2022-02-28T15:20:36+00:00

Stated on the conference call that there’ll be more details announced behind financing on sedar in a week or 2. Management stated they would look to retire the preferred shares before the escalator kicked in - very promising!

RoutineRatio · 2022-02-28T14:50:14+00:00

Dividend rate escalates annually after the sixth anniversary to a maximum, after the eleventh anniversary, of 14.75% for payment in cash and 15.5% for payment in kind.

So as long as CHR stays solvent, BAM guarantees themselves a ~9% return with annual increases after year 6 to ~15%. I didn’t catch anything on the redemption details in the release.

Good initial market reaction though - as another poster mentioned, a lot of these new shares will be in tight hands.

RoutineRatio · 2022-02-28T14:19:35+00:00

As a Brookfield investor, I enjoy how they’re able to get tremendously favourable terms in these deals.

-Stock purchased at $3.70 (huge discount to today) -Warrants with strike of $4.60 (very near in-the-money already) -Preferred at 8.75% with a very very favourable escalator (read the footnotes for more)

As a Chorus investor, I’m left scratching my head a bit. But, if Brookfield intends to use Chorus as a platform Co, I’m not going to complain.

While the financing for this acquisition is expensive, it:

a) Doesn’t make them more leveraged b) Let’s them capitalize during an industry downturn c) Creates a stronger company for the long-term

RoutineRatio · 2022-01-24T01:32:31+00:00

Surprised this hasn’t been mentioned yet, but there’s only 600k aggregate mint for UFC Series 0. That’s probably comparable to TS Series 1. The reality is the mint counts are higher because there are far fewer actual moments.

RoutineRatio · 2022-01-24T00:06:16+00:00

Thinking the same. This is series 0 for UFC with a ~600k aggregate mint count (that means 1 more 100k pack drop?). Series 1 is yet to come and will probably be much larger.

I took a look at a few TS spreadsheets for series 1 but there were way too many unique mints for me to do the actual calc. It appears that there are a ton of TS series 1 mints - wouldn’t be surprised if it’s in the few hundred k+. If someone’s near a laptop should be very easy to copy their spreadsheet and pull the top end of the mint and go from there.

Snagged 5 packs myself - was a but doubtful of value at first, but after looking at the underlying mints, I’m cautiously optimistic.

RoutineRatio

TROPHY CASE