CANADIAN IMP BK COMM (CM)
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- General Discussion on CM
- CIBC Deal Suggests Lack of Confindence [view article]
- Financial Landscape: Writedowns, Losses and Capital Raised [view article]
- The Global War Against Shorts: Canada Bans Short-Selling [view article]
- Canadian Financials Missing from the Short-Selling Ban List [view article]
- Wacky Times Present Unique Opportunities for Canadian Banks [view article]
- Four Canadian Financial Plays [view article]
- Blackmont Analyst: More Counterparty Credit Risks at CIBC [view article]
- 20 Guidelines for the Individual Investor [view article]
- UBS Analyst: CIBC Has Enough Cash to Cover Additional Writedowns [view article]
- Is CIBC Looking at More Subprime Exposure? [view article]
- Are Canadian Regulators Ignoring Fraud? [view article]
- Under The Radar News - Friday [view article]
loading ...Recent CM Articles
- CIBC Deal Suggests Lack of Confindence
- Financial Fallout: How It Affects Canadian Companies Sun Life and CIBC
- The Global War Against Shorts: Canada Bans Short-Selling
- Canadian Financials Missing from the Short-Selling Ban List
- Three Canadian Banks Absent From SEC Ban List on Short Selling
- Wacky Times Present Unique Opportunities for Canadian Banks
- Financial Landscape: Writedowns, Losses and Capital Raised
- Are Big Investment Banks' Days Numbered?
- Odlum Brown Analysts: Canadian Banks Still a Buy
- Analysts Mixed on CIBC's 3Q Results
- Full List of Articles »
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CIBC Deal Suggests Lack of Confindence [view article]
With above one year lag we could see at least a 5 yr drag on our economy. Maybe not as deep but.... ReplyCIBC Deal Suggests Lack of Confindence [view article]
I would add one comment re residential real estate. While our market will perhaps not be as severe there is no doubt that our mortgaging was not squeaky clean. We had lots of mortgages with nothing down and even "cash back." This cannot be good plus people falling over each other in a rush to get in while the getting was good. Now, with the USA being in recession, our biggest customer, I expect job losses and a recession of our own. If commodities continue to tank, as they are, then this exacerbates the problem. We are a resource nation!We are behind the USA typically a year or so. Keep that in mind. Long term of course,Canada is a good country. Reply
Financial Landscape: Writedowns, Losses and Capital Raised [view article]
I saw this list on bloomberg.com, updated through 9-20-08. does anybody have the link to it, or know where on bloomberg i can get a refreshed list? thanks ReplyThe Global War Against Shorts: Canada Bans Short-Selling [view article]
John's concern is valid - shorts play a important market role and confidence that the rules will not be dramatically altered without notice is critical to the proper operation of the markets in the long term. Redwood_12's point needs also to be considered, though, as naked shorts are a form of market abuse. They are tantamount to an investor "issuing" additional shares of a company, which is inappropriate. A pity the SEC hasn't moved on these more aggressively in the past, given their potential for abuse.That being said, the OSC did not have much choice. If you read the order, the only stocks which are covered are those that are inter-listed between the US and Canada. If short selling of an inter-listed stock was banned in the US, then it also had to be banned in Canada. The OSC's aim, quite appropriately, is to prevent what they are calling "regulatory arbitrage" - a concern that seems real given the current circumstances.
Don't we live in interesting times? Reply
Financial Landscape: Writedowns, Losses and Capital Raised [view article]
I would think so, RBS preferreds are going for less than half of par value AGAIN. sold one at $15 going down on monday, brought it back at $10 tuesday. so that helped reduced my loss (originally brought at par!) ReplyThe Global War Against Shorts: Canada Bans Short-Selling [view article]
The answer to your question, which is based on a false premise, seems obvious to me.The problem never was short selling or those who engage in it. The problem is NAKED short selling and those who not only engage in it but use it aggressively to manipulate markets, further compounded by the fact that even though it has been illegal all along, it has been allowed to happen completely unfettered for so long that the agencies who should be enforcing rules prohibiting it are now powerless to reign it in.
Consequently, the only way to get a handle on it quickly, which was absolutely necessary in order to defuse a situation that would have inevitably led to market meltdown, was to temporarily halt all short selling altogether.
It's far from a perfect solution, but one that has had the desired affect, at least temporarily. It is now encumbent upon the SEC to get ahead of the problem of NAKED short selling, get all the outstanding Failures To Deliver satisfied, and then move forward with a market where orderly short selling is reintroduced in such a fashion that powerful hedge funds can no longer get away with selling what they don't possess nor have any intention of possessing.
The free marketeers who bitch about this action now should have been speaking up over the last several years while the NAKED short problem spun out of control. Since they didn't, they can all STFU now as far as I'm concerned. Reply
The Global War Against Shorts: Canada Bans Short-Selling [view article]
Can anyone please try to quantify short selling in terms of % of the float of every financial stock ? There is a post on the Big Picture blog that tries just that. How much is naked short selling for example and how many times can you short a stock in one day using the same strategy ? ReplyCanadian Financials Missing from the Short-Selling Ban List [view article]
There may be surprises coming.... ReplyCanadian Financials Missing from the Short-Selling Ban List [view article]
Short selling is as necessary as the ability to speculate in any market. Just because the odds are stacked against them, does not mean the gamblers cannot be allowed to spend their hard-earned taxed-dollars on lottery tickets, even though it ismore tax.And I'm sure you'll agree with me, that I cannot stop YOU from buying a lottery ticket if YOU want to, can I? Reply
Canadian Financials Missing from the Short-Selling Ban List [view article]
Naked short sellers of the world unite! You have nothing to lose but your tan lines.It is doubtful that all the contradictions in the SEC's temporary ban on short sales will be worked out before the ban is lifted.
However, the existing rules against naked short selling will be enforced and they're not going away.
So, if you want to make money as a naked short seller, you may have to go elsewhere.
Speaking of which, I hear that Brazil is now promoting a few secluded beaches where naked short sellers will be allowed to congregate. However, I don't think they'll be allowed to buy or sell anything. :-) Reply
Wacky Times Present Unique Opportunities for Canadian Banks [view article]
Right, well I think the Canadian banks just want to be absolutely sure they are shooting at a deer and not something that looks like a deer in the heat of the moment. They will shoot, eventually. True waiting may cost if others more recjless swoop in earlier, but they are willing to pay that price in order not to make huge mistakes. Replyhedges
Wacky Times Present Unique Opportunities for Canadian Banks [view article]
The naked shorts should be prosecuted, their firms shut down, and disgorged of profits. That would end this crap!!! ReplyFinancial Landscape: Writedowns, Losses and Capital Raised [view article]
Anybody think the RBS preferreds are a good opportunity ? Would love some insite . ReplyWacky Times Present Unique Opportunities for Canadian Banks [view article]
"Naturally, one would need to validate the balance sheets,..."Ah, there's the rub. It would take a brave CEO to trust the outcome of any due diligence on those analyses. Or a stupid one. Canadian bank mgmt is very cautious, so they will stay well undercover in their 'blinds' and let the prey pass by. Again. Reply
Financial Landscape: Writedowns, Losses and Capital Raised [view article]
It's also interesting that RBS and Barclays have riased substantially more new capital than the amount of assets they have written down. Does this mean they were just greatly under-capitalized before, or that there's a lot more write-offs on the way. Reply