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This can't be good news for the stalwart Canadian banking sector: Scotiabank (BNS) becomes the...

This 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.
Comments (7)
  • cognitorex
    , contributor
    Comments (140) | Send Message
     
    Why the "This can't be good news." ???
    29 Nov 2012, 08:43 AM Reply Like
  • tikigod18
    , contributor
    Comments (888) | Send Message
     
    "This can't be good news for the stalwart Canadian banking sector:"

     

    Is that sarcasm, or a joke? I don't understand? It seems like a pretty irrelevant but nice award.
    29 Nov 2012, 08:52 AM Reply Like
  • Warderf
    , contributor
    Comments (45) | Send Message
     
    Usually, when things hit the top it makes the front pages of magazines, like FT or The Economist.
    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.
    29 Nov 2012, 09:23 AM Reply Like
  • Chazuu
    , contributor
    Comments (119) | Send Message
     
    It is pretty obvious that it's sarcastic.
    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.
    29 Nov 2012, 09:44 AM Reply Like
  • grlac
    , contributor
    Comment (1) | Send Message
     
    I have been retired 16 years & live of the dividends. BNS been holding for over 20 years certainly my best holding. Big payoff.
    29 Nov 2012, 10:05 AM Reply Like
  • cognitorex
    , contributor
    Comments (140) | Send Message
     
    Back when the dollar was iffy, 18 months ago, I decided to put some assets in another currency. BMO sprang up as a well regarded/hospitable stock. It's a pleasurable stock for me because I like to fool with options and BMO doesn't exhibit "gaming" tendencies like Starbucks, Citi or SLB as well as a host of others. In other words the stock action seems more mundane and 'readable.' The 'technicals' ring truer.
    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!
    29 Nov 2012, 02:09 PM Reply Like
  • tikigod18
    , contributor
    Comments (888) | Send Message
     
    OK, I get it....like the S.I. curse....K State was on the cover, and then got hammered by Baylor....still, seems a silly news-worthy mention.
    30 Nov 2012, 09:04 AM Reply Like
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