AC soars, WJ nosedives

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altiplano
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Re: AC soars, WJ nosedives

Post by altiplano »

privateer wrote:
Mon Sep 03, 2018 7:00 pm
RookiePilot. I'll say again.
Air Canada Debt: $6,063,000,000
WestJet Debt: $627,000,000

WestJet reported a loss of $20.8-million after 13 years.
Air Canada reported a loss of $77-million.

Putting giant pie charts up on here doesn't make it profitable.
AC has too much overhead.
LOL.

You see!

Your thinking is 10+ years ago.

The past is that... what are your doing tomorrow, next year.
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Bede
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Re: AC soars, WJ nosedives

Post by Bede »

Kaykay wrote:
Mon Sep 03, 2018 7:50 pm
Never ceases to amaze me how many pilots seem to believe they’re financial experts. Just because you’re a pilot, doesn’t mean you have any real clue about the financials of where you work or where other people work. Have your opinion, others will have theirs, life goes on. If pilots spent half as much time working together as they do bickering amongst each other, everyone would be much farther ahead.
I wouldn't call myself a financial expert, but one thing I do know, after identifying errors in thw banks generic retirement software, is that I know more than the last 2 financial "advisors" that my bank has assigned to me.
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altiplano
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Re: AC soars, WJ nosedives

Post by altiplano »

+1 Bede... useless.

Of interest is Financial "Advisor" vs. "Adviser" vs. "Planner"...

Anyone in Canada can call themselves a "Financial Advisor"... and they don't have a fiduciary duty to represent your interests.

The term "Adviser" is specifically regulated by securities commissions... The term "Planner" is regulated in Quebec only I believe.

Bottom line is the people who help you at The Bank, work for... The Bank... not you.

I learned after 15 or 20 years of financial underperformance that nobody cares about my money like I do... certainly not The Bank, certainly not the independent Advisor that sold me mutual funds, or the life insurance guy... somewhat thankfully it was relatively small amounts...
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rookiepilot
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Re: AC soars, WJ nosedives

Post by rookiepilot »

Bede wrote:
Wed Sep 05, 2018 4:32 am

I wouldn't call myself a financial expert, but one thing I do know, after identifying errors in thw banks generic retirement software, is that I know more than the last 2 financial "advisors" that my bank has assigned to me.
Movie "Wall Street". Martin Sheen: "Son, you are asking strangers for money -- you're a salesperson".

Very true.

My new 6 month old puppy knows more about risk management than 99% of advisors out there.
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rookiepilot
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Re: AC soars, WJ nosedives

Post by rookiepilot »

altiplano wrote:
Wed Sep 05, 2018 9:49 am


I learned after 15 or 20 years of financial underperformance that nobody cares about my money like I do...
Truth.
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Transonic
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Re: AC soars, WJ nosedives

Post by Transonic »

Kaykay wrote:
Mon Sep 03, 2018 7:50 pm
Never ceases to amaze me how many pilots seem to believe they’re financial experts. Just because you’re a pilot, doesn’t mean you have any real clue about the financials of where you work or where other people work. Have your opinion, others will have theirs, life goes on. If pilots spent half as much time working together as they do bickering amongst each other, everyone would be much farther ahead.
Balance sheet items as discussed above are taught in the first week of a 1st year University level business class. Reading them is unbelievably far away from being a expert.
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