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About OldManNearTheSea

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  1. I'm still only at the applying to med school stage, but as a non trad that is a manager in a different industry I have some generic advice that may be useful. Humility and allowing superiors to save face goes a long way. Even if they are wrong they are still human. No one likes being corrected, so the game is to get them to correct themselves without realizing you led them there. 1. Always be kind and respectful to everyone, but pleasing people that have no long term influence on your career is completely optional. Don't need a reference or performance review from this person? Smile, nod,
  2. Program: MD Result: Rejection Timestamp: 2:10 PM EST OMSAS GPA: 3.6 CARS: 131 IP/OOP: IP Casper: 2nd Quartile Year: Masters completed Knew it was a long shot based on my GPA and basically a write off once I got the Casper quartile, but posting the stats just to help anyone else that wants to benchmark themselves in the future.
  3. Go read 20 pages of a bond indenture making sure not even a single comma is out of place. Now imagine doing that for 12 or 14 hours a days for a couple decades.
  4. One of my verifiers was just contacted so it seems like Dal is still actively working through the review process. The reference being checked is for my most significant time commitment, but based on previous comments I don't think that means anything one way or the other.
  5. Apologies, I'm not great with these block quote things. I will try and tackle this in order. Your quote was My understanding is a LoC represents $350,000 of potential leverage. Vanguard Canada has about 40 different ETFs. It's closer to 80 if you are talking Vanguard US. Was I wrong in reading that as you don't think someone should be familiar with basic financial risk concepts before leveraging up to $350,000 on anything in that Vanguard mix? Next While you did originally state you would not do so you then followed up with the comment above about it being unnecess
  6. I cautioned people to read their own credit agreements. You stated your agreement didn't prohibit it and then extrapolate it is fine for everyone. Correct or not, that is irresponsible advice on your part to speak with a certainty you do not have. Now you claim you know how everyone will invest with borrowed money too. Again, this is irresponsible. How exactly do you know the readers of your comments will invest responsibly or that they can afford to eat such a loss? While this kind of leverage lacks a direct margin call you are still tying up liquidity. Are you going to cover them for th
  7. Thanks for the thoughtful response. I am an economist, a former professional investor, and a current risk manager at a large bank. Likewise nothing I post on this forum is financial advice. I think your point about there being intrinsic value to the financial education aspect of this kind of activity is astute. I didn't consider that in my previous replies. I don't think I overestimate the average investor. I worry that the average investor is easily exploited by people in my industry and potentially mislead by popular culture attitudes towards certain investment decisions. There is an
  8. Have you read all the agreements from every financial institution? If not, then I suggest you stop giving blanket financial advice. Suppose someone tells our friend here that bonds are safer than stocks. Then suppose they borrow on their LoC to buy XHB.TO. Then suppose interest rates rise 1 percentage point. What happens? What happens if rates rise 2 percentage points? These rate moves are currently market expectations over the year and two years respectively, so you really should understand what they would mean for your investments. No derivatives involved here. Just basic "low risk" etf
  9. Interest rate delta and equity beta are two broad categories of risk you would be taking by borrowing to invest in the stock market. I.e. what happens to the position if rates change or the stock market declines. That's not even taking into consideration you potential liquidity issues in a market correction if you over extend. I'm on this forum as non-trad applying to medical school, but my current career is in finance. I don't want to see you guys get burned. Taking financial advice from doctors is like taking medical advice from me: it could be good, but you should probably check with
  10. If you can't competently explain rate delta, equity beta, and margin lending without the help of Google then you do not understand the scope of the risks involved. If you understand those concepts and have some experience using them then you know the risks and rewards here well enough to make your own decision. I would caution anyone considering this to read the fine print in their LoCs; I've never read any of these agreements, but I wouldn't be surprised to see prohibitions on using funds for investment purpose.
  11. I haven't heard anything here either. I'm not sure how automated the verification process is from Dal's side. Maybe it's somewhat manual and they do it in phases. Maybe it's totally random which if any entries get checked. Maybe, maybe, maybe.... Not much to be done for it other that waiting.
  12. That question set was interesting to say the least. As someone that does hiring interviews in a different industry I was really taken aback by the direction some of the questions took. Let's just say I would consider it a personal and professional failure if a candidate could confidently predict my political affiliations based on job interview questions that I asked them. We'll see what happens in the Spring, but I am not optimistic.
  13. Also worth considering that tax laws are not static. The more layers between you and your money there are the more ways rules can change and have a big impact on your wealth.
  14. Incorporating is common and that would most likely require a lawyer to go with the accountant. And if you want a financial planner too then that person will need to be familiar with the intricacies of small business ownership.
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