Shane Parrish

a decent amount of debt in the railroad because they know what the earnings it's very predictable and they're comfortable the same as the energy where they're putting a lot of capital they put a lot of debt in and i talked to this guy in um nova scotia john bragg and he sort of did the same thing and so he he

created Oxford Frozen Foods.

He's this incredible story.

He's this billionaire from this small town of 1,100 people.

He started... I've been to Nova Scotia.

What's it called?

Oxford.

It's called Oxford, Nova Scotia.

And he started not one, not two, but three multi-billion dollar companies from this small town of 1,100 people.

Is he still there?

He's still there.

Such a great guy too.

And it was fascinating to talk to him because he basically was like, look, you know, he owns North America's largest private telecommunications company.

And he said, I wasn't afraid of that at all.

And we levered up massively.

We went all in multiple times, acquiring more assets.

But if there's something more volatile, he gets very nervous about the debt.

So he wouldn't do it if there was volatility.

But he also had this thing where it was so counterintuitive to what you hear on Wall Street, which is like, I don't mind paying more.

You know, I don't mind paying the most.