flapjack

TD Bank - Too Good to Pass Up

Owning TD is not a bet on the Canadian economy, not a pure play play anyway. Its US banking operation - just its US assets - is the 17th largest bank in the states with $US 118B in assets. Between that and their 40% stake in TD Ameritrade, you're looking at net income in '09 of a billion dollars in the United States alone. Everyone is watching something else - the stock price, the ongoing crisis, etc and are missing the real story with this stock, which is that it is ideally positioned for growth in the only place a Canadian bank can grow - the US market.

Toronto Dominion: Best Positioned Canadian Bank

Good call. But hey, I own this stock too and actually believed Clark as he said all along that TDBFG wasn't in the businesses that were dragging banks and IB's down. He was very up front about the telecom mess that Charlie Bailey got the company into. Time for a change at the top when the transparency goes. Its easier for a new guy to be forthright about problems that didn't occur on his watch.