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.