Originally Posted by
iahflyr
Exactly. Our NC sold high. This provision will be useless under normal, low, or no growth periods. If the company spend negotiating capital on this, it’s their loss. I’m glad our NC was able to monetize this.
100%. We’re not giving up leverage, we’re selling leverage while the leverage commands a high price. That’s smart. Once either another black swan or the 0-hero ab initio pipelines fully spool up the Captain vacancy leverage will go away.