nisser wrote:Everyone and their mother is buying TD and RBC because of their "US exposure". I think all the lemmings going down the same hole are in for a big disappointment.
Why? Do you think that the US economy will not grow as expected, or that CDN banks with a significant US presence will not be able to take advantage of it?
When "everyone and their mother" is doing something, sometimes there is a good reason behind it... I can't predict the future, but it seems a reasonable bet to assume that a rising US tide will at least not be a negative on the TD boat.
It's a bet that the US economy will benefit under a Trump administration. Like some others, I think this is no better than a flip of the coin and remaining diversified remains the best strategy over the long haul.
The twittering twerp, at a minimum, creates havoc for business decisions. The good news is if business can see beyond 2020 IF the twittering twerp lasts that long (he may blow a circulatory gasket before then). The world order in trade will likely look different by then but it may not be the US that remains supreme.
Descartes wrote:1. Nisser is talking about buying now not 12 months ago. Prices of the CDN banks have changed somewhat since then.
2. Lemmings don't jump off cliffs to commit suicide - see what that evil Disney corporation did here.
3. While I don't know if there will be a "big" disappointment, I can't dispute that there might be an unrealistic expectation that US exposure is going to a huge catalyst for such CDN banks.
It's not the specifics of the example that are pertinent, but rather the point to be gleaned is that buying under performing assets can yield very good results on a go forward basis, particularly when it comes to the banks.
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
Thomas Babington Macaulay in 1830
AltaRed wrote:It's a bet that the US economy will benefit under a Trump administration. Like some others, I think this is no better than a flip of the coin and remaining diversified remains the best strategy over the long haul.
The twittering twerp, at a minimum, creates havoc for business decisions. The good news is if business can see beyond 2020 IF the twittering twerp lasts that long (he may blow a circulatory gasket before then). The world order in trade will likely look different by then but it may not be the US that remains supreme.
I don't care for Trump at all but for those that do (might ?) probably not the best thread/forum to be throwing political insults around in ?
{{Reminds me uncomfortably of the anti-Harperism garbage we used to get ...}}
Ah, but I (and millions of others) are having fun at his expense. Just like SNL and Bill Maher and....... Those who stand out like a punch bag witih a bulls eye on them are fair game. Trump could start by deleting his Twitter account and stop taking everything personally...with his classic stupid responses. He actually could be quite effective draining the Washington swamp if he started to show some maturity.
AltaRed wrote:Ah, but I (and millions of others) are having fun at his expense. Just like SNL and Bill Maher and....... Those who stand out like a punch bag witih a bulls eye on them are fair game. Trump could start by deleting his Twitter account and stop taking everything personally...with his classic stupid responses. He actually could be quite effective draining the Washington swamp if he started to show some maturity.
In that spirit, let me tell you all about what I think of that little silver spoon twerp and his trip to the Bahamas...
see,,, a slippery slope and not the appropriate thread. But I defer to your judgement...
FWIW. the only stocks (at the moment) that are on my possible sell list are PWF and ALA. The former due to its languishing capital appreciation over the last 5 year period (and even worse 10 year period), and the latter due to its potential move into a staid US NE utility. The trigger will happen when I have found good (in my opinion) replacements.
Going back a couple of years now I had indicated a desire to simplify things and move out of individual security selection outside of Canada. This has been an ongoing process on several fronts usually spurred forward when there is an opportunity to sell a legacy holding that can be offset with a tax loss.
With that in mind I sold out our remaining position in GPC that I have held since 2008. I had about half of the original amount that had been trimmed to conform to IPS limits. There was no other particular incentive to the GPC sale than taking the opportunity to get out of a large position with a large embedded capital gain in the most tax efficient manner. Fundamentally, the auto cycle has topped out and that has been reflected in the share price action, so the exit seemed timely. The tax loss candidate in this case was VFC which I had been building a position in for the past 12 months or so. It was down ~15% on cost, so that triggered an automatic review and the decision to sell was made.
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
Thomas Babington Macaulay in 1830
Sold my Torstar (TSE:TS.B) 'trade' position this morning at $2.08 for a +10% gain. This was with my newly contributed TFSA money. I had bought it a couple of weeks ago based on technicals, which still stand, and was hoping for a strong breakout, but decided to not be too greedy at this point.
Sold CGY, Calian Group. This one is up almost 15% already YTD and 81% over the last 12 months. A great little company. I held it through the downturn and it maintained its dividend. It has since been recovering nicely, but for me, it was time to cash in and look for other opportunities.
Banks ran way too much the last couple of months. Sold out of National Bank today at $56.67, a 45% gain. This is non core holding that I bought early last year. Proceeds went partly to CCO and BCE and the rest will be in cash.
Jay reminded me that I, too, sold the remainder of my NA in my rrsp account in recent days, at $56.55. I am keeping my holding in my non-registered account, which i have built up over the past 2 years on the dips.
I had initially bought my rrsp NA at about $54 only to seee it slide down significantly, i had added to it on each slide until I owned more NA stock than I wanted and was glad when the stock finally appreciated in price. I am still in a quandary about where to invest next. I have far too much cash (first world problem).
Pickles wrote:Jay reminded me that I, too, sold the remainder of my NA in my rrsp account in recent days, at $56.55. I am keeping my holding in my non-registered account, which i have built up over the past 2 years on the dips.
I had initially bought my rrsp NA at about $54 only to seee it slide down significantly, i had added to it on each slide until I owned more NA stock than I wanted and was glad when the stock finally appreciated in price. I am still in a quandary about where to invest next. I have far too much cash (first world problem).
I have the same problem. I am looking at the USA Vanguard funds. The small cap ETF is the one I think I will buy.
Exited AQN. Nothing wrong with it, but I am above my equity target (as is shown on my spreadsheet ) and it is a small holding; today's price seems a good exit point. I am expecting a correction at some point and will save the cash for later deployment.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Dodged a bullet on GILD after selling it early last week before the quarterly report came out.
After reading through the annual report and a few quarterly reports, I decided I didn't quite understand where the company was heading. While it looked cheap on first glance metrics (P/E, FCF, Dividends, etc), which was the primary reason I bought, I felt uneasy after reading the reports and not quite grasping the company.
Ended up selling for the same cost basis I bought at and got to collect one dividend payment so no loss, no gain.
Sold ~2/3 of our TDB622 (monthly income fund) for gains offset by the sale of the last of some still underwater prefs.
Timing was simply to provide cash for gifting.
TDB622 has been held since pre-etf days and has done ok despite its 1.47% MER .
Notable that while we've lost $5,357 of annual income it provided, we've also shed $3,816 of annual MER.
Sold 25% of my over weighted position in CPX (Capital Power) yesterday at $25.25
No change in fundamentals and a company I'll continue to hold, but I needed to trim it badly.
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Shakespeare wrote:Sold 2/3 of my BMO. Equities are above target and 3.4% yield is too low (i.e. it's overpriced).
A bit surprising as a FED rate hike is almost a sure bet next week which is supposed to benefit financials over other high yielders, even in Canada. Unless of course the expected hike is already built into the market, and a bigger bombshell might be Morneau raising our cap gains tax. Any concerns about that?
Unless of course the expected hike is already built into the market
Ya think?
a bigger bombshell might be Morneau raising our cap gains tax. Any concerns about that?
Nope. All my funds are in registered accounts.
in Financials, I think asset managers is the only sub sector that remains very attractively priced. I am looking to add to TSE:POW on the Canadian side, initiate a new position in TSE:GS and also considering NYSE:WDR for its awesome fundamentals.