Market Currents
This can't be good news for the stalwart Canadian banking sector: Scotiabank (BNS) becomes the...
-
Thursday, November 29, 2012, 7:53 AM ETThis can't be good news for the stalwart Canadian banking sector: Scotiabank (BNS) becomes the first Canadian lender ever to be recognized as Global Bank of the Year by the FT's The Banker magazine.
Other date
Latest Articles on Financials
This news story has 7 comments:
Is that sarcasm, or a joke? I don't understand? It seems like a pretty irrelevant but nice award.
I think that is the point the headline above.
Often I would agree. But I don't see an extreme over valuation in the Canadian banks. I am at the weighting I want to be in banks. I've actually been hoping for a pull back. I would hold and on a pull back add to my position.
Having said that I haven't read Royal Banks release today, yet.
It's like a mass circulation magazine having a cover article on "The Death of Equities". That almost always precedes a strong bull market.
I have been and still am long BMO and RY. The Canadians, through a combination of good sense and good regulation have avoided most of the dangerous excesses of the big US banks.
When it gaps down I'll sell 2 (maybe 4) puts (eye out towards VIX/vol of course) and on outbreaks sell calls. ((A price I pay for the mundane stock action is not so liquid option offerings, but more liquid then meets the eye if you place your order optimistically priced between the bid and ask.))
To date I'm even with the stock (400 shares at $60.00) plus the nice 5% ish dividend and 6.5% in option gains. Side note: I don't try to make a killing on the option bets, just win and take miniscule profits if that looks like all I'll get on a cycle. Watch the vol!