Ignore the noise, buy Canadian banks: portfolio manager
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- เผยแพร่เมื่อ 29 พ.ย. 2023
- Paul Harris, partner and portfolio manager at Harris Douglas Asset Management, joins BNN Bloomberg to discuss Canadian bank earnings. He says at current valuations Canadian banks are worth buying. He says rarely have you seen the banks down two years in a row, which should set them up for a good 2024. Harris adds the banks continue to maintain high capital levels and have room to increase dividends and buy back shares.
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Long term investor story here. 25 years ago I bought some CM shares and since then directed the dividends to buy additional shares. Today the annual dividends are more than my original investment.
I recently bought TD at ~$76.80 (5% yield). Now with the dividend increase to $1.02 a $81.60/share purchase price will provide 5% yield. Excellent opportunity to accumulate these days.
The K.I.S.S. Principle. 😁
Blood money that losses it’s value almost as fast as you make now because of your criminal banker buddies
Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
Not in Canada... not the same regulations, not the same reality.
@Formancando ROFLMAO... hell no...
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Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Buy low and sell lower. Yeah rite!
got it don't buy the banks
"banks are about to hit the tubes, good time to buy"...🤣
Canadian banks for life!
This guy needs people to buy to close out a huge position. Stay the f away from Canadian banks.
It would be awful to be invested in something that makes gobs of profits, the big 4 Canadian banks earned $8.49 billion dollars for the quarter! Imagine that as a bad news story. Oh look we only had a profit of $8.49 Billion!
@@waffles1castock price only goes as long as the last round of earnings were better than the last, it's called compounding
Host not brave enough to ask how many bank share the pundit bought.
He needs to unload his heavy bags 🛍️
Buy now and have 5% dividends for years, and sell in 20+ years when you need to liquidate...
You can't lose money doing that since the dividends alone are going to be over 100% of your initial investment...
Or try to short the market and suffer...
agreed 100%
"Ignore the noise"? Are you seriously telling your viewers to stick their heads in the sand and pretend as though everything's okay? Holy cow what has happened to the once great BNN?
They are owned by the banks and other big corporations.
I sold all my Canadian holdings only own American stocks now
Exchanged BNS when it spiked briefly with better earnings with BMO when it dipped.
BMO has been better.
Have trimmed my Canadian banks as they are no longer a good investment as they have are all down significantly.
Sounds like panic to me.
Banks are fucked. It's all done by design.
Reverse Repo market. Billions a day. Not much left in the bank. Gonna see some wild shit when we hit zero
I hope the CDIC rides to the rescue for real. If you're over the CDIC limit bail-in city awaits you soon enough.
Canadian banks typically make huge profits from CC. When interest rates rise and people can't pay, they let the CC go long before the house or car. Delinquencies are down now, but that's while debts are rising. If delinquencies increase in a big way, all the major banks are in for red ink.
banks have gone bankrupt in the United States and Europe, but that can't happen to us 😬😬😬
Listening abd following these guys is the best way to become poor
Just remember according to the Shiller P/E ratio the U.S. stock market today is more overvalued than it was in the summer of 1929 when it went on to drop 89 percent top to bottom. Anything you buy today isn't cheap.
Other time, other reality... now today, the economy is globalized and the value of money is 1800% lower than 1929. Not only this, but the amount of money in circulation is not even on the same scale. So your comparison is flawed.
That is not exactly true, you did not have accounting standards for reporting financial statements in 1929. But yes this market overvalued that 100% a fact.
Seriously. These guys are just looking for bag holders. They're not interested in helping retail. Don't buy that shit. Look at the unrealized losses the banks are holding. They just need help from investors to weather Those massive unrealized losses that are about to hit the tape.
😮
I'm celebrating a $95,000 stock portfolio today. I started this trip with just small investment. I have invested time and the right conditions, now I have time for my family and the life that awaits me.
Wow!! Kind of in shock, you mentioned Mrs.Gillian. She has proved beyond all doubt that it's worth generating wealth from crypto investment. I've been earning greatly
lol no
another 25-30% haircut coming . Household debt to income at all time highs. Canada is in huge trouble, especially with this massive influx of poor immigrants. Banks are a horrible investment right now.
Yes sure why not...if you want to dig your grave
If trudeau was gone, more people would be willing to invest in canada but at the present time, even banks are a risky proposition.
so it’s “fire the governor of the bank of Canada and turn canada into the crypto capital of the world “ then this would bring in investors. Sorry no, it would have investors running for the exits.