Investments
Investing mainly in well-established companies is one of the three cornerstones of our investing philosophy (the other two are spreading your money out across the five main economic sectors, and focussing on investments that are outside the current media/broker limelight).
Well-established companies generate enormous gains over periods that stretch into decades. But their pace of growth varies. They can and often …read more »
CANADIAN IMPERIAL BANK OF COMMERCE $76 (Toronto symbol CM; SI Rating: Above average) is Canada’s fifth-largest bank with $280.4 billion in assets.
In August 2005, the bank set aside $2.8 billion (or $7.45 a share) to cover various lawsuit settlements related to its dealings with bankrupt U.S. energy trading firm Enron Corp. The charge wiped out about 20% of CIBC’s shareholders’ …read more »
BANK OF NOVA SCOTIA $47 (Toronto symbol BNS; SI Rating: Above average) is Canada’s third-largest bank, with assets of $314.0 billion.
In its fourth fiscal quarter ended October 31, 2005, earnings grew 15.9%, to $0.80 a share (total $811 million) from $0.69 ($705 million) a year earlier, due to gains in retail, wealth management and international operations. Excluding onetime items, the …read more »
Bank stocks have been among the market’s top performers in the past few years — as they have for the past few decades. Now some investors worry that rising interest rates will hurt their loan growth, and that the banks’ loan losses will rebound to the long-term average from their recent lows.
That may happen, and bank stocks may face a …read more »
