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Bank Of Nova Scotia (BNS)

|About: The Bank of Nova Scotia (BNS), TSLA, SQ, OPY
Summary

Stable growing dividends for the last 50 years!

P/E of 7.5.

Bank sell-off overdone in this name.

Strong market share.

Bank of Nova Scotia ( BNS $50.70) The P/E is now 7.5,  and the yield is almost 4.70%. They are about the best Canadian bank out there today. Very liquid and safe. BNS now a major holding of ours as of today.

BNS just way safer in a riskier market with no trade deal in sight and way more liquid than most other banks we like, we want to stay liquid and "short" hedged as well.

This is by far the best-run bank in Canada.

Over one -third of there income is from fee income.

We did have the first bank failure today in Texas a smaller bank but the first to go under in a few years.

I think this will not be the norm for the rest of this year. In fact, today will be one of the best buying opportunities for banks so far this year. Next week could be even better, do your work this weekend and get your list ready.

There are several names to buy today and several more just a few points away from the buy zone.

OPY at $24.66 today is about the cheapest investment bank in the market today we went all in, if it goes lower we will add more.

Our "shorts" on two financially engineered companies like SQ and TSLA are breaking down big we would hold both "shorts" for more gains at least 15%-25% more to the downside still. 

Smaller banks like GNBF are buys all day long under $60.00.

If this Mexico trade stuff is cleared up next week Lydall ($18 LDL) is a buy at this level, they just bought a few companies over the past few years, for over what they themselves are trading at today prices. This one is just way over-sold.

There are still way too many stocks way over-priced do your homework, get long the names you love, next week and keep many hedges on in the high flying names that are just starting to break.

Douglas Hughes

5/31/2019