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  • Earnings Expectations Lowered for Canadian Banks - Blackmont Capital [View article]
    Forgot to add, Blackmont has been to kind ... they should have reduced their price targets even more

    (oh, and with today's news on re-org of MBI affecting RY and CM, well CM is not out of the woods either ... i am rather surprised CM has not yet broken its 52-week low, but that is coming soon).

    By the way, which of RY, BMO, or BNS will be the first to $US 15.00 ?
    Feb 20 07:08 am |Rating: 0 0 |Link to Comment
  • Earnings Expectations Lowered for Canadian Banks - Blackmont Capital [View article]
    Yes,
    1. slowdown in Canadian domestic lending
    2. residential defaults rise; commercial mortgages big risk

    3. RY's capital markets unit provided un-hedged guarantees on Stable Value products sold to corporations for benefit plans (RY is on the hook for returns of x% even though interest rates and equity markets have declined significantly).

    4. BMO's bank in USA HArris Bank bought into Vertis Partners Asset Management (a spin-off of the Asset Mgmt unit of Phoenix Home Insurance company of CT). Vertis did an IPO at $10 and stock worth $5.50-$6.00 now

    5. BMO's payout ratio is now at 90% ... how is this sustainable ??

    6. BNS has currency devaluation losses on its Latin American footprint


    Were Canadian banks really so smart, or are they just somewhat lucky (so far)?
    Feb 20 06:58 am |Rating: +2 0 |Link to Comment
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