To The Pointwith Boris Bozic
Commentary, Opinions, Thoughts and Discussion on Current Events, Politics and The Mortgage Industry

0 Comments What does this mean for the Mortgage Industry?

Article written by on the 24 Apr 2015 in Current Events

There’s been a tsunami of economic data released over the last two weeks; couple that with the new Federal Budget, as well as musings from the Bank of Canada, there’s a lot to chew on.  I’m always on the lookout for the “nugget” as it relates to the mortgage industry.  Be it data or something said. 

The Bank of Canada is still predicting that if there is a price correction it will be a “soft landing”, but with an interesting caveat.  According to the Bank of Canada, “The adverse impact of the oil price shock in Alberta, along with robust price growth in Toronto and Vancouver suggests a correction in these markets” – nothing really new here.  I think we all know there are two very distinct real estate markets, Toronto and Vancouver on one hand, and the rest of Canada on the other. As for Alberta, once again nothing new. But what I found interesting was that the Bank of Canada suggested that the Toronto and Vancouver marketplace may have to be dealt with separately from a regulatory or pricing standpoint if home values continually rise. Well, this is different. For now it appears to be a warning or simply a heads up to the two respective market places, but it would be naive to think this is just bluster. The Bank of Canada is concerned that a significant correction in home prices in Vancouver and Toronto could spill over to other regions. For all my friends and colleagues in Vancouver, you’re used to this type of chatter. For decades you’ve been hearing, “Here it comes, get ready to create tents cities in Stanley Park because the market is going to crash and you’ll be out of your homes”. I get it, you roll your eyes when you hear this. But for us in Toronto it’s fairly new.  Toronto has been this countries piñata for the last decade so leading in any category is fresh. So you’ll have to excuse us here in Toronto if we become skittish by threats. It’s only from of our lack of experience dealing with predictions of the apocalypse.

Helping to ease some of our angst in Toronto, and Ontario, was the most recent federal budget.  Yes, Ontario is the pretty girl, and federal Tories want to take us to the prom.  The most recent federal budget was skewed to help the manufacturing sector in this country.  Trouble in the resource sector? No problem, the federal Tories looked to Ontario and pulled a Joey Tribbiani from Friends and just said “how you doin?”  Worry not Alberta. The Tories are not saying “goodbye”. They’re simply saying “we’ll see you again” – like right after the next election.

Until next time,


Read More Add a Comment

0 Comments Talent Is Overrated

Article written by on the 10 Apr 2015 in Book Review,Business,Merix Financial,Sports,World Events

That’s the title of a book I came across while wandering around an airport a few years ago.  The title of the book was such a contradiction of my own personal belief that I was left with no choice but to pick up the book and read the overview inside the book jacket.  I’m not sure if the author, Geoff Colvin, came up with the tittle or not.  Whoever it was, kudos.  It made me pick up the book, and eventually buy it.  It’s an interesting and fairly simple read.  The book is based on research, and Colvin’s interpretation of the data.  His findings and conclusions are based on empirical data, and there is not a single suggestion that to be great at what you do is easy.  On the contrary, Colvin concludes that to be great requires painstaking work and dedication. 

 The reason the book came to mind was because of the Masters Golf Tournament.  Golf enthusiasts know that the Masters is being played this weekend, actually, Thursday through Sunday.  The Masters is a unique tournament.  Its mystique is unparalleled.    Augusta National, where the Masters is played, is sacred soil for golfers.  Golfers would pay a “stupid” sum of money for the privilege of playing that course, just once in a lifetime.  It would be the ultimate bucket list experience.  I’ve had the privilege of attending the Master’s on a few occasions.  The first time I walked on the grounds I was mesmerized.   It was one of those rare moments where you can say the experience was better than what you anticipated it would be.  So, what does this have to do with a book entitled Talent Is Overrated?  The author dedicated a chapter to Tiger Woods, who just happens to be playing at this year’s Masters golf tournament.

Tiger Woods is one of those rare athletes who transcends a sport.  People who don’t even like golf know who Tiger Woods is.  He is one of the most recognizable athletes in the world.  Many people adore him, and many people dislike him.  But there’s no denying that everyone has heard of him, and can recognize Tiger Woods.    That’s a result of being a generational athlete, who is responsible for a transformational change of a sport.  Some know him more for his personal shortcomings, which I could care less about, but everyone knows him because he was that damn good at his chosen profession.  Colvin posed the question, “why was Tiger Woods that good?”  Is it a God given talent?  Does he possess a golf gene that no others have?  How many times have we explained extraordinary results by simply  saying, “he/she was born that way”.  Colvin debunks that myth, and I think he’s on to something.

SPOILER ALERT –  I’m going to share some of his findings so stop reading if you want to pick up the book and be surprised.  Tiger Woods was programmed to be a golfer, specifically by his father.  Earl Woods, Tigers father, served in the military.  He did two tours in Vietnam, the second tour as a member of the United States Army Special Forces.  In other words, a bad ass you didn’t want to mess with.  He knew all about structure and discipline.  He also had a teaching background.  His background was the perfect for molding and programming his son to become one of the greatest golfers of all time.  Example, when Tiger was an infant, his father would take him into the garage, put him in a high chair, and make him watch his golf swing for hours on end.  Tiger’s father loved golf, and he was determined to make his son love the game even more.  At four years of age Tiger and his father appeared on the Mike Douglas Show, a well-known TV Talk Show back in the day, to demonstrate his golfing prowess at such an early age.  Tiger’s entire life was golf and school. Apparently the focus on education was his mother’s doing.  Tiger was programmed to think, eat, drink and practice golf.  Thousands and thousands of hours dedicated to hitting a little white ball.  The dedication to practice, to sacrifice “normal” child experiences, created a golfing virtuoso.   So is Tiger’s mastery of the sport nature or nurture?  After reading Talent Is Overrated, I lean more towards nurture.

Everyone knows about Tiger’s personal challenges.  Golf fans know that Tiger’s body is breaking down, and his age is becoming a factor.  The hundreds of thousands of violent swings, which is the only I can describe Tiger’s golf swing, has to eventually take a toll.  The golf world so badly wants Tiger to be Tiger of old.  Everyone was surprised to see Tiger embracing other golfers  on the practice range at this year’s Masters.  Tiger joking around with the media, spending time with his children.  Everyone is saying it’s a new Tiger Woods.  The Tiger of old had little time for comradery, kibitzing with the press, and family was used as a prop.  Can he ever win again with this new found attitude?  I think it might be a matter of too little, too late.    As the old saying goes, “practice makes perfect”.  But perfect has a price. 

Until Next Time.



Read More Add a Comment

Contact Boris


  • Welcome!

    "I work in a world of numbers, process, execution, risk mitigation and all kinds of other sexy stuff. To share my thoughts, opinions and personal tidbits does have some creative appeal for me. It will also push me to do something that I am not totally comfortable with, writing. Get me in front of a room full of people to do a presentation and I'm on. Writing a story that others may actually be interested in reading sounds like a challenge to me. The reality is that I enjoy a good challenge and if it ends up that mom is the only reader of my blog so be it."

  • Subscribe