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These are the same groups that have been trying to get FHFA to stop the sweep...
Nah..

These are the same hedge funds that have been trying to get the same groups that have been trying to get FHFA to stop the sweep... for the last few years already.
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Not sure if there is anything to make of this letter. These are the same groups that have been trying to get FHFA to stop the sweep for the last few years already... sending letters on a pretty frequent basis.

I don't recall them using such direct language though in past letters.  This one seems more to the point.  Perhaps I'm wrong.
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General Discussion / Re: Canadian tariffs
« Last post by rb on Today at 02:01:36 PM »
I'm kind of curious as to whether any Canadian here would support eliminating the de-minimus threshold and if not why? Because you are definitely hurt badly by this.
I would not support eliminating the de-minimus threshold. This is why: Let's say that a Canadian retailer imports an US product for sale in Canada. When a customer purchases that product the customer has to pay sales tax. If the customer instead goes and purchases that product across the border (or from a US e-tailer) then the customer would pay no sales tax.

This logically makes no sense to me, aside from wiping out the Canadian retail sector. I guess I'm not so selfish to wipe out entire sectors of the economy in order to save a buck. One also has to wonder, if one goes about intentionally and systematically wiping out sectors of one's economy, how many bucks will be left for one to save?

However I would wholeheartedly support reforming the current system in order to greatly simplify the collection of applicable taxes. Something as simple as swiping one's credit card at the border gate.

EDIT: From personal experience, the Canadian border guards are very liberal in not enforcing the de-minimus. So in reality the threshold is significantly higher than what is codified.
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Not sure if there is anything to make of this letter. These are the same groups that have been trying to get FHFA to stop the sweep for the last few years already... sending letters on a pretty frequent basis.
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Thank you, Luke.

I don't see "cornerofBerkshire" in that list of signatories. Have you guys sold?

Hah!  Good one  :).  It does read like we wrote it.
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Investment Ideas / Re: PWE - Penn West Petroleum
« Last post by Joe689 on Today at 01:40:57 PM »
Would have thought we would have responded by now with the shift in strategy.  Afterall, we are fully hedged almost till 2019 when the new production comes on.  2019 models will show this thing even more under priced.  I guess we need to wait till execution.  Again wait.  Did not like the BTE merger today either.  Another terrible deal.   Very few players interested in CA M&A it seems. 
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Thank you, Luke.

I don't see "cornerofBerkshire" in that list of signatories. Have you guys sold?

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Politics / Re: Border patrol detention centers
« Last post by rb on Today at 01:31:57 PM »
When a country's solution to it's big problem involves using concentration camps then something seriously went seriously wrong with said country. History will not look down kindly on these people. 
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Investment Ideas / Re: ALS.TO - Altius Minerals
« Last post by nostradamus on Today at 01:27:23 PM »
http://www.excelsiormining.com/index.php/news/news-2018/545-excelsior-mining-provides-permitting-update-june182018

Excelsior said back in March that they expect the final permits by the end of Q2 2018. They’ve issued a press release today to say they STILL expect it by the end of Q2. Comical. They are going to look pretty stupid if they don’t get it.
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"It really speaks to the elephant in the room - WCSB o/g is landlocked"

LOL!

A very large portion of oil produced in Saudi Arabia and Russia is also landlocked or not produced on a sea platform. And it is the same for a multitude of countries: has to travel 100's of miles into a pipeline to reach a port.

The problem are socialists or eco-terrorists blocking pipelines by electing idiots. Not geography and even less geopolitics being an issue on this one since the oil has to travel only through the country that produces it. Talk about self-inflicted pain and stupidity!

Regarding replacing depletion of their Eagle Ford, you are out to lunch once again. Raging River decline rate is over 40%/year, approaching 45%. So it is higher than Baytex current 28% corporate decline rate. Merging with RRX does not help BTE on that regard.

The problems with Raging River are: one if not highest decline rate in Canada, running out of new wells to drill in the Viking to offset such decline, involved into what remains an exploration play in the East Duvernay and trading at the highest valuation metrics in Canada (before deal announced).

Any Canadian player buying this was bound to see a big hit the day of the announcement.

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