prudentinvestor

Six Canadian Banks That Should Reward Long Term Investors

The Canadian economy is heavily dependent on natural resources, energy, timber, minerals, etc. There is also considerable manufacturing of autos and other engineered products. So Canada is not immune from a significant downturn if the global (and especially the US) recession continues.

Although Canadian banks have, not surprisingly, been managed much more prudently than US banks, they are still vulnerable to an asset crash. Alberta in particular has had frothy real estate values, so is particularly vulnerable if energy prices do not recover in 2009.