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September 03, 2013
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A Sweet Spot for Canadian Banks

Richard Croft

Last week the six major Canadian banks all reported better than expected quarterly earnings. The numbers were as follows; Earnings Per Share l Underlying Banks Estimate Actual Price P/E Dividend Yield Bank of Montreal $ 1.68 $ 1.53 $ 66.11 10.61 $ 2.96 4.48% ScotiaBank $ 1.31 $ 1.39 $ 58.50 11.54 $ 2.68 4.58% CIBC $ 2.13 $ 2.29...

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7 years ago
no-cover
August 26, 2013
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The Impact of Changing Demographics

Richard Croft

Over the past couple of weeks, North American retailers have been reporting second quarter earnings. The numbers were not pretty! There was a marked slowdown in retail spending on both sides of the border, particularly in the numbers that came out of giant discount retailers like Wal-Mart and Macys, which reported their numbers...

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7 years ago
no-cover
August 19, 2013
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Why I Like Banks

Richard Croft

Before getting started with this weeks’ blog I need to correct something reported last week. In discussions about US interest rates I talked about the US 10 year Treasury yield and mentioned resistance at 2.5%. That was a misprint, it should have read 2.7%. My apologies. The reason I wanted to raise this – besides wanting...

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7 years ago
no-cover
August 14, 2013
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Will Gold Begin to Glitter Again?

Patrick Ceresna

Gold has been in a material bear market for over 2 years. We have now seen some capitulation selling that has seen gold print below $1200.00 in late June. Since the low, gold has been retracing back to its 50 day moving average, which has been resistance for its entire decline during 2013. After such a prolonged bear market, it...

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7 years ago
no-cover
August 12, 2013
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A Return To Macro Events

Richard Croft

As earnings season winds down, focus will shift away from company specifics onto Fed nuances, tapering timelines and interest rate fears; noise that typically triggers sentiment shifts with an attendant spike in volatility. Not surprisingly, we are seeing signs that the US economy is not as robust as some might have thought....

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7 years ago
no-cover
August 06, 2013
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Managing Value versus Growth with Options

Richard Croft

Value versus growth… the debate continues! High beta stocks can provide oomph to the portfolio. Value stocks offer stability and dividend income. The investment industry markets value because it is an easy narrative; “we are long term investors who buy good quality dividend paying well managed companies at a discount.”...

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7 years ago
no-cover
July 29, 2013
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Stocks for a Higher Interest Rate environment

Richard Croft

Canadian stocks share much with the Toronto Blue Jays in that they pale in comparison to their US counterparts, proving once again just how much our economy relies on commodities, precious metals and energy. Friday was yet another disappointing day weighed down by retreating gold stocks, fallout from Potash’s sub-par earnings...

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7 years ago
no-cover
July 22, 2013
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Portfolio Management… Not Investment Management

Richard Croft

Portfolio management is not investment management. That may seem contradictory, but the distinction is important in terms of one’s financial health, And particularly relevant for investors who rely on their portfolio for income. A portfolio is the end result of a disciplined process that allocates an assortment of financial...

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7 years ago


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