Beyond the arc

.
DOUG  By Guest Blogger Doug Rowat
.

Amazingly, at the start of the year, Shopify, a pricey stock with an untested e-commerce business model, rivalled Royal Bank, our biggest and most profitable Canadian bank, for overall Canadian market-cap supremacy.

It was a short-lived battle. Shopify has since plunged 47% y-t-d as investors awaken to its less-favourable post-pandemic reality. In contrast, Royal Bank is actually up about 5% y-t-d, which is saying something based on how 2022 has played out for most global equity markets.

Blog readers know, I’m a vocal proponent of having Canadian bank exposure, and I’ve been consistently accurate. I’ve nailed my past Canadian bank calls like Steph Curry nailed three pointers at this year’s NBA All-Star Game. Those of you prone to eye-rolling should stop reading now.

In early 2012, when I was an underpaid equity analyst (though with a sexy VP of Research & Strategy title), I wrote the following about the Canadian banks in a research note during the European sovereign debt crisis:

A potential entry point for the Canadian banking sector. There’s been a lot not to like about European financials, but, unfortunately, despite much better fundamentals, Canadian banks have been caught up in the wave of unfavourable sentiment. Canadian banks continue to boost dividends (five of the Big Six in 2011), remain well capitalized, generate exceptional return on equity and trade at attractive valuations relative to their recent histories. Actual credit exposure to the riskiest parts of Europe is also minimal. Risk-tolerant investors with a long-term investment horizon might find that 2012 was an excellent entry point for this fundamentally important sector.

Of course, 2012 was indeed an excellent entry point for Canadian bank stocks. Nothing but net. More recently in 2018, and more publicly because I wrote it here on The Greater Fool, I reiterated the importance of Canadian bank exposure, focusing on the banks’ exceptional profitability. In addition to throwing shade at the weed sector, I noted the following about bank earnings:

[Their] profit level, of course, is staggering. To put it in perspective, according to Deloitte, the core marijuana industry in Canada, which has certainly dominated investor imaginations over the past several years, is estimated at only $8.7 billion. In other words, Canadian banks make more in three months than the entire value of the marijuana market. (And one clear problem with pot stocks is that they aren’t making any money yet—banks certainly are.) …So, naturally, we continue to like the Canadian banks and they remain a key part of our client portfolios.

Care to plot weed stocks against the banks since 2018? Nothing but net.

Most recently, I again wrote here  in late-summer 2021 that Canadian banks were likely to significantly raise dividends by the fall:

It’s now looking like the announcement [from the banking regulator to allow dividend increases] will come in the fall. And given, as I mentioned, that banks historically raise dividends at a 6% annual pace and we’re approaching 20 months now since the last bank dividend hikes, it’s likely that the upcoming dividend increases will be double-digit, perhaps even as high as 15% for some banks. That’s a lot more cash that will soon to be making its way into the hands of bank investors.

Less than two months later, regulator restrictions were lifted and the banks significantly boosted their dividends, most by 10% or more (and some by even more than my estimated 15%). With the dividend increases as a catalyst, bank share prices jumped. Nothing but net.

So why have Canadian bank exposure now?

Their immense profitability continues (see table below for their latest quarterly results). Their dividend yields remain attractive at an average of 3.7%. Their long-term performance, which is impressive at 13% annually, speaks to the operational consistency of their businesses. Thanks to Russia, commodity prices are likely to remain elevated throughout the year and even the long-struggling Alberta economy is now expected to grow a remarkable 5.4% this year. The overall Canadian economy meanwhile is firing on all cylinders, growing an incredible 6.7% annually in the final quarter of the year (without the full benefit of the recent rise in commodity prices).

Canadian bank loan exposure to Russia is minimal. Rising interest rates will allow banks to flourish. As but one example, Royal Bank recently noted that every 25-basis-point increase in short-term rates boosts its yearly revenue by $175 million. Given all of the above, would this be the year to bet against the banks?

Canadian bank FYQ1 results

(Click to enlarge) Source: Bank earnings releases, FactSet. Unadjusted earnings.

We’ll see if I’m right by year-end, but I’m throwing up another Canadian-bank trey for 2022.

The ball’s still in the air, of course, but like Steph Curry at the All-Star Game, I’ve already turned my back to the basket.

Doug Rowat, FCSI® is Portfolio Manager with Turner Investments and Senior Investment Advisor, Private Client Group, Raymond James Ltd.

 

101 comments ↓

#1 neptunian on 03.19.22 at 11:13 am

does this mean Canadian bank stocks can be a good hedge to inflations?

does this also mean there will NOT be significant loan default as interest rates rising?

#2 Shawn on 03.19.22 at 11:13 am

Advice you can Bank on…

Doug Rowat

Bank profitability? Yep. I looked specifically at the ROE that Royal Bank of Canada makes on its personal and commercial banking division. This is its core everyday banking operation. This division includes all but the very largest corporations. It actually reports ROEs around 30% for the past five or more years. (The lowest lately was a “dip” to 26% in the pandemic year 2020, back to 32% for 2021, belch!!)

That is staggeringly profitable. It’s amazing that the lefties don’t see this and go nuts about the apparent gouging.

#3 Yukon Elvis on 03.19.22 at 11:14 am

I like your call on the banks. Only problem is they are not on sale any more like they were during the dips when they were paying 5-6% dividends. But the dividends and modest growth are certainly reliable going forward. I am liking the big pipelines now too.

#4 Tarot card on 03.19.22 at 11:22 am

Thanks for the blog Garth
Thanks for the post Doug
I own ZWB a nice 5 percent yield
I have believed in banks since around 1980 when I wanted to start investing
Does anyone remember when the stock exchange used to go to the financial shows? I bought 2 shares of BNS only because it had a dividend reinvestment plan. So you could contribute monthly with no fees! Those were the days!
Have a great weekend.

Have a great weekend

#5 pPrasseur on 03.19.22 at 11:26 am

Blog readers know, I’m a vocal proponent of having Canadian bank exposure, and I’ve been consistently accurate.

The debt binge continues, the Canadians bank cartel does well…

If I recall US banks were doing pretty great before the bubble popped!

#6 Dharma Bum on 03.19.22 at 11:27 am

You can always bank on the banks.
Never bet against the banks.
Oligopolies tend to make money.
The banks are the best businesses is Canada.
They continuously raise their fees indiscriminately.
They pay out paltry interest.
They blatantly rip off their customers.
They rake in massive profits.
What’s not to like?
Solid investment.
The last bastion of true capitalism.
Bank on it.

#7 Summertime on 03.19.22 at 11:29 am

Canada IS the big banks + around 100 large corps.

Of course you need to be heavy exposed to it. There is hardly anything else left in this ‘economy’.

The rest is the debt slaves that take it hard in order to ensure bank profits by practically removing any risk (socializing the risk) for the banks (hello CHMC) while privatizing the profit.

If somebody had told me 20 years ago where would we be now in terms of total financialization and idiotic totally inadequate policies I would have laughed.

Now I subscribe to/believe in/ even the most ridiculous conspiracy theories as the reality is far more surreal than those conspiracy theories.

I think authorities have totally lost any sense of normality.

Watch the prices of energy and food.

By some estimates inflation in the lower income brackets feels more like 20-30 %, not the pathetic 6 % reported by the lairs at the statistics.

And is further accelerating.

Remember Mark Carney talking about the imminent rate increases 12 years ago? Guess what, now it is at the ‘astronomical’ 0.5% while inflation is firmly in double digits.

Money as a measure of labour and capital cost were never meant to be managed by incompetent central bankers.

Now let’s all enjoy the ‘generous’ CPP and OAS, soon to amount to a bread a day for max payments out of it in the cold, -20 % (without the wind-chill) cozy GTA streets.

And do not forget to thank our elite for their generosity and competent ruling.

#8 Ponzius Pilatus on 03.19.22 at 11:30 am

Excellent post.
Very well laid out.
Sprinkled with wit.
Go Canadian Banks, Go!

#9 RowatNation aka Prince Polo on 03.19.22 at 11:30 am

Historically, one can never go wrong by adding Cdn banks when their dividends are yielding 6+%! March & April 2020, anyone? Juicy!!!

#10 Sam on 03.19.22 at 11:45 am

But isn’t the profit all based on funny money printing since 2009?? So essentially, your thesis of rising rates and QT gelling May be incorrect. It will be reversing course and lowering rates and QE that will help. Besides your thesis contradicts – if high rates help banks why have they made astounding profit during a decade of low rate environment?

#11 The Original Jake on 03.19.22 at 11:50 am

The real estate correction from the financial crises negatively affected Canadian real estate for only a couple of months while covid impacted only the city core for barely half a year before rising again.

We have not had a prolonged correction in real estate here in Canada in over 20 years. Given runaway inflation not seen in over 30 years, wouldn’t excessive rising rates stunt mortgage demand and bank profitability?

#12 Ponzius Pilatus on 03.19.22 at 12:01 pm

Talking about beyond the arc(hes).
Russia has its own McDonalds now.
Using the branded M sideways.
Could Old McDonald lose one of its largest market?

#13 Quintilian on 03.19.22 at 12:15 pm

Not much of a mystery.

Government socializes the risk and puts its thumb firmly on the scale to support the bank’s oligopoly.

Shameful, dishonest, unfair, not free market driven, but agreed, very profitable.

#14 crowdedelevatorfartz on 03.19.22 at 12:16 pm

Canadian Banks cant lose.
Govt garantees, rising mortgage rates, CMHC.
What’s not to love as an investor.
:)

#15 highlander on 03.19.22 at 12:17 pm

Nothin’ but net 4sure :)

#16 Andrewski on 03.19.22 at 12:19 pm

Doug, thanks for reiterating that Canadian banks should be a part of investor’s portfolios.
What account would you recommend they be held in, RRSP, TFSA or non-registered & why?

#17 Stupify on 03.19.22 at 12:26 pm

“an untested e-commerce business model”

Not really a fair or even valid assessment since the business model is in fact tried and true. Should not be compared to companies that have been around for 150 years and are basically in the business of loaning money risk free, if you consider CHMC backed loans. Canadian banks are value stocks; Shopify is a growth stock!

That being said, Shopify was in part victims of their own success. Tons of business because of Covid that will not be repeated. The share price went to the moon when investors thought Shopify’s historic growth was going to continue.

Just glad I didn’t touch it. Though it may be entering reasonable price range now.

#18 Sail Away on 03.19.22 at 12:28 pm

Thanks Doug, good post.

And ten years later, the marijuana companies are moribund, hollow husks. Three issues here: first, it’s very easy to grow and three plants is a year’s supply; second, the illegal stuff is of same quality and half the price of legal pot; and third, nobody should be surprised that companies run by pot enthusiasts are floundering. It is not a performance-enhancing substance. Especially the ability to reason. Giggling schoolgirls have more sense than potheads. A puff a day makes profits go away.

Regarding banks: they do have continuing secure niche revenue flowing in from ever larger mortgages, specifically tied to Canada consumers with mortgage insurance. The TSX has heavy bank exposure, and the banks are currently at or near ATHs, which, of course, can still keep increasing.

It’s a tough call. Feels like a sugar high, which is way more productive than a ganja high, but still.

#19 conan on 03.19.22 at 12:28 pm

Canada is going to be a major beneficiary of new business from Europe.

That is always good for the banks.

Add in huge population growth as even more people want to move to Canada.

The long term for Canada is AAA.

#20 Mehling on 03.19.22 at 12:39 pm

Canadian Real Estate Prices Expected To Drop 24%, Can Crash 40%: Oxford Economics

https://betterdwelling.com/canadian-real-estate-prices-expected-to-drop-24-can-crash-40-oxford-economics/

#21 Dr V on 03.19.22 at 12:46 pm

Many of the ETF providers have rules-based canadian equity funds based on dividend payments. The indexes
(NASDAQ, Dow jones, FTSE….) supply the rules which allow the providers to call them “index” funds and keep the costs low. Number of holdings may be 30-50.

The resulting indexes can be over 50% financial exposure. Go get some if you haven’t already.

God bless the banks. We hate them. God bless the dividends. we love them.

#22 Michael on 03.19.22 at 12:51 pm

Love it. BMO, BNS, ZEB, ZWB. I know I shouldn’t hold individual stocks, but how can I not…

#23 Satori on 03.19.22 at 12:58 pm

#109 Ponzius Pilatus on 03.19.22 at 9:53 am
#98 crowdedelevatorfartz on 03.19.22 at 7:42 am
@#90 Shawn
RE: Golden Ears Bridge
_______________________________________
At about the same time they built Golden Ears, they re-did the Sea to Sky Highway… no toll there… nothing for the uber-wealthy going up to ski at Whistler. Nope, those folks drive free and if they can afford to ski up at Whi$tler, for fun and recreation, they can afford a toll.

The working-class, who have to live far from their jobs for affordability reasons, who are trying to make a living, THEY are forced to pay a toll to get to their jobs.

Makes zero sense to me.

#24 JSS on 03.19.22 at 1:03 pm

Hi Doug, what kind of dividend increases do you think we’ll see this year from the Canadian banks? When do you think the banks will begin announcing them? Thanks

#25 Faron on 03.19.22 at 1:22 pm

#97 Sail Away on 03.19.22 at 5:44 am

Wow, 2:44 AM and 6 comments yesterday, 8 the day before, followed by two already today. This comments section is really important to you. And you revel in “self control”? Not unlike our friend Jordan Peterson who self controlled himself into a benzo addiction.

Sorry, winning the argument would mean showing that the seizure of yachts leads to degradation of the USD and demonization of Russians which you’ve only scuttled around. The last bit has, sadly, happened.

I do see you felt ego-bruised enough to cherry pick some good returns from your portfolio to crow about. Unfortunately for me probably not a SAGI at this time. And your overall underperformance still has to be the governing thesis. You would crow if you were outperforming.

Get a life. Pot, kettle, black etc. But, seriously, get a life. Something is wrong for you. Fix it. Stop being a prick.

#26 Dr V on 03.19.22 at 1:26 pm

Also note that all of the big 5 trade between 11-13 P/E.
Not quite the bargain of Spring 2020 when P/E s were in
single digits, but divvy payout ratios are only 35-45%, so room to grow those with positive earning growth.

And the big pensions own the banks too! So we all take it at one end to enjoy it at the other.

I know we love to complain about them, but I understand that during the lows of the pandemic, the Office of the superintendent of Financial Institutions directed the banks not to increase their dividends, and not to do share buybacks, so as to increase available capital in case of severe economic downturn.

How can you not like that kind of oversight?

17 Andrewski – I have them in all 3 accounts, but the most direct exposure is non-reg for what can be tax-free divvys.

#27 ogdoad on 03.19.22 at 1:30 pm

Love the confidence, Doug!

And, like I would say to Steph Curry before the show; “Let’s see whatcha got”.

Og

#28 crowdedelevatorfartz on 03.19.22 at 1:45 pm

@#25 Satori
“Makes zero sense to me.”

+++

Yep.
Kinda like building a multi billion dollar tunnel, in “lower than sea level” Richmond , next to the tidal estuary of the Fraser river…..when we know that global warming is causing ocean levels to rise……

Who needs a bridge when you can build a tunnel.
Posers and self congratulatory fools run this, city, province and country.

#29 Daveyboy on 03.19.22 at 2:13 pm

Is there any ETF available in the u.s. to get exposure to Canadian banks?

#30 baloney Sandwitch on 03.19.22 at 2:28 pm

Canadian banks are licensed to loot money from the populace. You cannot NOT own them. Same for the 3 big telecoms.
Anyway, looks like the action is now shifting from the US to Canada with our more basic economy of digging stuff out of the ground.

https://media.ycharts.com/charts/288bbe931b8a9208bc9dcd8ae320af89.png

#31 Doug Rowat on 03.19.22 at 2:28 pm

#18 Stupify on 03.19.22 at 12:26 pm
“an untested e-commerce business model”

Not really a fair or even valid assessment since the business model is in fact tried and true. Should not be compared to companies that have been around for 150 years and are basically in the business of loaning money risk free, if you consider CHMC backed loans. Canadian banks are value stocks; Shopify is a growth stock!

—-

They have different business models?

I made the comparison to give the post a bit of flavour and, apparently, to provoke readers like you.

—Doug

#32 Interest ...ing on 03.19.22 at 2:32 pm

Most of the banks including the Royal Bank, TD Canada Trust and Scotiabank have increased their five-year fixed-term mortgage rates by an average increase of 45 basis points in just two months.

That means that the gap between fixed and variable just increased. Variable rate at TD went up the expected 0.25% a week ago.

No wonder people are lining their pockets with variable.

Interestingly, you can still get 1.9% rate for 2 years when purchasing premium used vehicles from some dealers. I actually took advantage of it only because of the rate, instead of tying up cash. Never thought I would ever finance a vehicle.

#33 Doug Rowat on 03.19.22 at 2:33 pm

#13 Location, vocation, procreation! on 03.19.22 at 12:09 pm
Doug,

Did someone ever dispute the fact that Canadian banks were a solid investment choice? I want names.

—-

They certainly were in 2011 and 2012. Back then, it was Financial Crisis 2.0.

—Doug

#34 Sail Away on 03.19.22 at 2:42 pm

#27 Faron on 03.19.22 at 1:22 pm

Stop being a prick.

——–

Name calling. Unfair, vicious, unprofessional.

Boo

#35 crowdedelevatorfartz on 03.19.22 at 2:43 pm

@#27 faronist
“Get a life. Pot, kettle, black etc. But, seriously, get a life. Something is wrong for you. Fix it. Stop being a prick.”

+++
Mirror, mirror on the wall.
Who is the faronist of them all…….

#36 PeterfromCalgary on 03.19.22 at 2:46 pm

USA banks seem to fail more often. Is this because Canadian banks are better regulated, better run or a bit of both? Or maybe I am wrong and our banks are no better than the USA ones.

#37 Joker's wild! on 03.19.22 at 2:51 pm

#11 The Original Jake on 03.19.22 at 11:50 am

We have not had a prolonged correction in real estate here in Canada in over 20 years. Given runaway inflation not seen in over 30 years, wouldn’t excessive rising rates stunt mortgage demand and bank profitability?

*******

Even without new mortgage underwriting, renewals at higher rates will most likely more than compensate. The math could easily be done if you knew all the variables in the equation. Doug provided a reference to Royal Bank statement indicating how much they will make for every .25% rate increase. You would need to offset that gain by your expected loss in revenue from new underwriting that may dry up as a consequence of higher rates.

Think of banks as casinos. They make money from you every which way.

#38 Satori on 03.19.22 at 3:15 pm

#30 crowdedelevatorfartz on 03.19.22 at 1:45 pm
Posers and self congratulatory fools run this, city, province and country.
________________________________
Agreed.
In the west end a parking permit is $700 per year. To park on the street (where your car gets broken into monthly)…but in Kitsalano, where the rich and famous reside, its $50 per year…for a tiny 4 block little square. The rest of Kits is Free.

Green? People who live and work in Vancouver, pay extra for rent, extra for parking. What’s the point?

I am literally packing up this minute. Last day of work was yesterday.

There are things I might miss, but not finding parking, not the 30 minute drive that is 6 blocks long to my place, amidst the bike lanes, one ways and stagnant car on car traffic. Not the exhaust, not the constant ‘screaming and swearing’ psychotic episodes, or dumpster fires, or skunk weed smell, or inconsiderate neighbors, or public urination, or store line-ups, or looking over my shoulder when I walk, or the blinding flood lights and white LEDs from adjacent apartment windows at night…so very very sad that in 3 years this city has lost most it’s beauty and charm.

Last night I celebrated with drinks at the Wedgewood Hotel, it still has that old world charm that Hotel Vancouver use to have which is now as sterile as an operating room.

Everything changes of course – unfortunately downtown and hastings have merged and as I look out my window, at 7 new 60 story buildings going up, only 2 blocks away, I can just imagine the over-populated chaos yet to come…

#39 Shawn on 03.19.22 at 3:39 pm

The lament of the Left Out

#10 Sam on 03.19.22 at 11:45 am

But isn’t the profit all based on funny money printing since 2009?? So essentially, your thesis of rising rates and QT gelling May be incorrect. It will be reversing course and lowering rates and QE that will help. Besides your thesis contradicts – if high rates help banks why have they made astounding profit during a decade of low rate environment?

************************

Did poor Sam miss out on bank profits.

Sam, no matter how they did it profit is profit.

Most money creation comes from people borrowing money which does indeed create money (and profit for banks).

And of course the thesis about the future MAY be incorrect. The future is never 100% clear. You pays your money and you takes your chances. Or you miss out entirely.

#40 Ustabe on 03.19.22 at 3:40 pm

#35 crowdedelevatorfartz on 03.19.22 at 2:43 pm

@#27 faronist
“Get a life. Pot, kettle, black etc. But, seriously, get a life. Something is wrong for you. Fix it. Stop being a prick.”

+++
Mirror, mirror on the wall.
Who is the faronist of them all…….

Lets recall the genesis of Faron, eh?
He arrives, posts about climate change, several sturdy conservatives don’t care for that so they attack him. Not climate change but him, personally.

Time passes, he doesn’t go away so it falls to one of our regular posters to publicly call on Garth to ban Faron.

That seems to tickle the fancy of a semi regular who proceeds to question his sexuality, his job, etc. Sail Away begins to chime in with the odd contribution from lessor sturdy conservatives..

Time passes.

Faron makes a decision to actually fight back in his Faron manner which is decidedly different from the Internet, sturdy conservative tuff guy way being his background is in academia where arguments such as these are accomplished before morning coffee.

They created the Faron we see today, they should take responsibility for it. But they, especially Sail Away, won’t because taking responsibility is anathema to that type of person.

The only reason you, Ponzi, others to a lessor degree, get away with your act is due to an underlying sense of humanity which is entirely lacking in Sail Away’s contributions.

His contributions can be characterized in two ways, “look at me and how much better I am than you” and “look at me and how much richer I am than you”.

Period. And do not misconstrue this as a defense of Faron. If either one decided to stop posting it would be a positive. If both decided to stop it would be doubly so.

#41 TurnerNation on 03.19.22 at 4:18 pm

Kanada: The Land of a Million Millionaires.


This tiny retro bungalow in Toronto is going for $1.6 million”
https://www.blogto.com/real-estate-toronto/2022/03/362-deloraine-avenue-toronto/


— Control over our Feeding…always. How about a man-made rail strike.
Inflation Nation. The Middle Class Paycheque is worthless. We are back to the times of serfs and lords.
The Global Reset kicked off that cold winter week March 2020. Our global rulers won, fair and square.

“The National Post reports in its Friday, March 18, edition that even before Canadian Pacific Railway announced it would lock out nearly 3,000 Teamsters Canada Rail Conference engineers, conductors and yard workers at midnight Saturday, American feed shippers began halting shipments north, fearing a work stoppage would strand their cargo once the network stopped operating…”With the drought we had last year we already had a critical feed shortage, so right now they’re relying on somewhere between eight and 10 trains per week bringing up corn and dried distillers’ grain from the states to feed the more than million head of cattle in Western Canada.” (stockwatch.com)

#42 Sail Away on 03.19.22 at 4:19 pm

Fantastic spring-ish day. 4am mountain hike before sun to avoid punky snow- perfect weather, well-deserved eggs benedict.

In Alaska, we loved spring weather- the sun melts the snow surface, which freezes overnight and gives a 3-4 hour window where it’ll support full bodyweight. We’d skate-ski over the fields, marshes and swamps for hours. Almost flying. Especially the long fields with gentle downslope. And 3 hour boot hockey games. Great memories.

#43 SW on 03.19.22 at 4:32 pm

#40 Ustabe on 03.19.22 at 3:40 pm
“…And do not misconstrue this as a defense of Faron. If either one decided to stop posting it would be a positive. If both decided to stop it would be doubly so.”

Yep. Perhaps we have to ignore the flea-bitten curs fighting in the corner and the lonely millennialists and millenials predicting disaster and bemoaning their fates.

Always a pleasure hearing from someone sensible, thanks.

#44 Barb on 03.19.22 at 4:35 pm

It has frequently been quoted on these pages:

Don’t OWE the banks, OWN them.

#45 tbone on 03.19.22 at 4:36 pm

Yep, started collecting bank stocks and ENB about ten years ago. Now the dividends provide all that i need in retirement . It`s like a pension but i own the principal .

Bought a little weed stock too . It will offset capital gains when i sell it at a loss.

#46 Sail Away on 03.19.22 at 4:38 pm

@Ustabe,

Let me extend my appreciation. I know if I were to become homeless, there is already a permanent cozy nest waiting for me in your pre-frontal cortex. That means a lot.

#47 Victor V on 03.19.22 at 4:41 pm

ZEB (Canadian Banks) vs MSOS (US cannabis).

I like both but my bet is on MSOS for the year.

#48 crowdedelevatorfartz on 03.19.22 at 4:56 pm

@#38 satori
“Everything changes of course – unfortunately downtown and hastings have merged and as I look out my window, at 7 new 60 story buildings going up, only 2 blocks away, I can just imagine the over-populated chaos yet to come…”

+++

Yep.
The architect Arthur Anderson once commented in the 1980’s that ” By 2050 Vancouver will have 10 million people” and everyone laughed at him…..

3 million by 2020 and no one is laughing now…..

The politically correct paralysis of the police, the politicians, the teachers have created a society where everyone (rightfully?) can complain about the opinions or statements of everyone else as “harrassment”.

I dont think its any surprise that “stranger on stranger” attacks have exploded in the Lower Brain Land.
One wonders when the final push to rename “colonialist” Vancouver, Victoria or British Columbia will succeed.
We will call ourselves some unpronounceable, unrecognizable First Nations name…. (that involves letters and numbers that the original inhabitants wouldn’t recognize because unsurprisingly….there was no written language invented until the pc nazis stepped forward)…. the rest of the world will ignore and keep referring to as “Vancouver”

#49 crowdedelevatorfartz on 03.19.22 at 4:59 pm

@#40 Ustabe

“due to an underlying sense of humanity which is entirely lacking in Sail Away’s contributions….”

+++
Speaking of our human side.
I’m quite sure Sail Away experiences flatulence…
He just doesnt embrace it like i do….

#50 PeterfromCalgary on 03.19.22 at 5:03 pm

Inflation is still higher than interest rates. That means if you have good credit you can make money by borrowing and buying any asset that keeps up with inflation. It could be art, classic cars, hockey cards or anything. The value of these things are not so much going up as the value of money is going down.

#51 Faron on 03.19.22 at 5:07 pm

#40 Ustabe on 03.19.22 at 3:40 pm

Absolutely and I take your criticism as constructive. I’ll add only that I arrived here when COVID hit and was drawn in by the wildly errant characterizations of the disease by the steerage and by Garth himself who scoffed at suggestions COVID would kill millions. Excess deaths data have the number at as many as 25 million now.

The importance of that messaging gave the comments section far more importance in my life than it ever should have had. Overall for me and others, high commenting frequency indicates a problem with the commenter prior to any problematic arguments. I dislike BillyBob’s, and other’s bullying, but at least they don’t demonstrate utter failure to balance the need to reply here with more important IRL living. There is objectively nothing less important than commenting here anonymously into a crowd of addicts. Nothing.

My reducing comment frequency would itself be a double boon. One to this pseudo-community and second to myself. Likewise could be said for the other hyper-frequent commenters — crowdedelevatorfartz, ponz, nonplused, myself, Sail Away even IHCTD9 and whoever the shape shifting trolls are. This is a miasmatic echo chamber that I toss a dissonant pean into that has zero constructive utility. None.

Fact.

Ustabe, if you ever run into a Faron on the Island, say hi. I don’t bite and you seem like one of the few people worth meeting here. Take care.

To be clear, in 2020 I dismissed wild claims posted here that millions of Canadians would die of Covid. Mine was a correct assumption, as the death toll two years later is 37,183. – Garth

#52 Bankish on 03.19.22 at 5:10 pm

In 2014 I bought just over 1000 shares of TD around $96.00 a share. Shortly after they split 2 for 1 and I ended up with over 2000 shares worth about $48 a share. Those 2000 shares are now worth $101.79 each and I have been recieving dividends every quarter since.
Now CIBC is going go 2 for 1 in May and since I have over a couple of thousand shares and the process will again be repeated.
You cannot beat the banks pipelines and such so just buy them and have a passive dividend income that will more than keep up with inflation. I earn more now than I ever did working and after age 65 you can tax split income with your spouse to pay a very low rate of tax.
Keep sending the investing message out Garth and Ryan because it works well for those willing to listen.
One thing this pandemic has taught me about those that don’t listen is YOU CANT FIX STUPID

#53 Faron on 03.19.22 at 5:21 pm

I finished a second Sebastian Junger book: Tribe. Another strong recommend for this crowd on the importance of community and the paradoxical happiness that is found within the unifying forces of war and disaster. Also a useful framework for thinking about PTSD in veterans as both real trauma and loss of social cohesion. 130ish page intro to broad swaths of anthropology. Time spent in the comments here would be far better spent digging through his cited works.

War is next of his books for me to read followed by The Perfect Storm.

#54 Faron on 03.19.22 at 5:30 pm

To be clear, in 2020 I dismissed wild claims posted here that millions of Canadians would die of Covid. Mine was a correct assumption, as the death toll two years later is 37,183. – Garth

I apologize Garth, and my respect for your views grew when I saw you taking even that lesser death toll to-heart while supporting needs for masks and vaxxes. To be commended.

#55 Danny on 03.19.22 at 5:33 pm

Doug, I am sure you do very well with Canadian bank shares but my wife and I are too risk adverse, cautious in nature with our principal, original investment amounts. We like our approach we have taken with our finances. We stick with our 5-7 year GICs, RRSPs, TFSAs as we fund them each year. We have done well as savers, GIC depositors for over 25 years now. The highest GIC rates now at 3.15% to 3.25% we can get is also helping our finances and GIC rates are heading up for weeks now. We have most of ours in 2019, 3.5% to 3.75% 5 to 7 years and others now maturing getting in the 3.15%+.

We have managed to accumulate at ages 47 and 48, 16 years of our most recent income which is $79,000 in all our RRSPs, TFSAs, GICs. Just the interest from them all is 62% of our income $79,000 a year. We did a balanced approach for our finances, saving versus paying down debt so we do still have $120,000 left on our mortgage but the house is worth $650,000 so plenty of equity, 81.5% equity to value of our house. We have no other debt at all. The mortgage is locked in until 2025 so we are okay there for now at 2.89%. We will be at least $50,000 lower in our mortgage balance as we have annual prepayments made. Our goal really is to have between 85% to 90% of our current gross income by ages 57 to 58 and 100% of our current gross income by ages 60 to 65 as CPP, OAS will help us closer to that. If we even achieve 85% to 90% of this goal we will still be quite satisfied.

#56 David Gerald Paquette on 03.19.22 at 5:35 pm

I don’t where the world is going. I really have questions about our leadership. Maybe I should stand for the task. Then I don’t know if people will stand behind me as I not social but I get things done. A popularity contest is not something I want to win – it would probably make my life easier. Perhaps we will nuke ourselves. Lets get by back.

I play days one at a time. Sometimes it is tough to stomach. Live goes on and I know I will die. I love my daughters. They sent cops after me worried if I was
still alive. I said don’t do that again – I don’t need to be dressed done by cops. They sent a squad after me.

Things are going well on the investment front for me. I am looking for 10% this year but things can change quickly. I keep my mind high and positive. But then evil can happen to me. I will write back later if I survive.

#57 TurnerNation on 03.19.22 at 5:42 pm

Oil’s well that ends well. As I noted mid 2020 every system designed to protect us has been turned against us. Weaponized – as global WW3 began.

Why oh why were we trained on #stayhome and Essential vs. Non Essential travel? And on WFH? This is the New System. Our rulers play the long long game.

Control over travel? Always. Almost back to normal guys!!

https://twitter.com/GBNEWS/status/1505080838165200898
GB News @GBNEWS
Brits told work from home three days a week and ban cars on Sundays to beat Putin energy crisis

#58 Frank on 03.19.22 at 5:55 pm

Why doesn’t the government pay for all our bills, taxes, expenses and we get everything we need, want delivered. This will save us on oil, gas, the environment, not really. What a bunch of crazies.

#59 Gary on 03.19.22 at 6:06 pm

Danny, you sound like my grandfather we would buy just savings bonds, GICs, term deposits with the family’s finances. I remember him telling me in 1981 he had a 17% GIC and savings bonds at 19.5%. He showed me his book of banks, credit unions, savings bonds. It was a big total of $1,090,000. Remember, this was back in 1981. He was very successful with his construction business for over 45 years and passed it on to my father to take over. He just did not like having ownership in a company, business if he was not in charge. This is why he only liked deposits in the bank and savings bonds but not ownership in shares in a company, bank. I guess having some experience during the depression did not help.

#60 Mark on 03.19.22 at 6:28 pm

I am 29 and never knew GIC rates 17%, savings bonds 19.5%. I doubt that will ever happen again. I thought interest rates highs were in the 6% maybe 6.45%. I remember getting Ontario savings bonds paying 6.45% back in 2000. My cousin is a deposit broker for 10 years now and buys GICs from over 30 financial institutions for his clients. The highest rate he has today is 3.35%.

#61 Doug Rowat on 03.19.22 at 6:29 pm

#55 Danny on 03.19.22 at 5:33 pm
Doug, I am sure you do very well with Canadian bank shares but my wife and I are too risk adverse, cautious in nature with our principal, original investment amounts. We like our approach we have taken with our finances. We stick with our 5-7 year GICs…

—-

You mention GICs paying you up to 3.75%. You may have counterparty risk that you’re not considering. Seems highly unlikely, but if you did get such a lofty interest rate through a safer Big Five bank, the irony is that the bank is still, at least in part, taking your funds and reinvesting them at a much better rate of return with zero liquidity constraints.

—Doug

#62 Shawn on 03.19.22 at 7:15 pm

Anyway…

Just move to Alberta and all will be fine.

#63 Brian on 03.19.22 at 7:45 pm

DELETED

#64 David W2 on 03.19.22 at 7:51 pm

Well said!

#65 Dr V on 03.19.22 at 8:48 pm

42 Sailo – watched the cool, breezy weather this morn and waited for a little more warmth to venture on a 3+ hr road ride. Ran into other riding buddies who had the same idea. Strava shows other friends riding mountain, trail and snowshoeing.

Life is good! Glad you enjoyed the day!

#66 Henchman on 03.19.22 at 8:55 pm

#55 Danny on 03.19.22 at 5:33 pm

Doug, I am sure you do very well with Canadian bank shares but my wife and I are too risk adverse, cautious in nature with our principal, original investment amounts. We like our approach we have taken with our finances. We stick with our 5-7 year GICs, RRSPs, TFSAs as we fund them each year. We have done well as savers, GIC depositors for over 25 years now.

======

No, you haven’t. Now please stop posting to this website.
I implore you to leave this world immediately.

#67 crowdedelevatorfartz on 03.19.22 at 9:15 pm

@#58 Frank
“Why doesn’t the government pay for all our bills, taxes, expenses and we get everything we need, want delivered.”

++++

Give our Prime Minister time.
He’s working on it.

#68 Wise Old Owl on 03.19.22 at 9:32 pm

Canada puts itself out as a capitalist country. It’s not!
Generally it has 6 banks, 6, gas companies, 6 grocery stores, etc. and they are all cartelized.
If you get cheesed off at RBC and cross the street to TD at the same time there is someone leaving TD and crossing the street to RBC. And all the time all the banks are laughing at us suckers.
Drive down the street and check out the gas prices. There isn’t 1, 1 100 of one cent difference in their price per lite, competition what a hoot!
So yes OWN the banks, BUT give your business to a Credit Union.
As for the gas companies, select one, I chose Esso. Why because they are the biggest. Then VOW to never again in your life buy gas there again. If Esso can be taught a lesson the others will learn. Yes there are times when Esso may momentarily be 2/100 of a cent cheaper but don’t fold, buy the dearer gas. Freedom isn’t free and sometimes you do have to pay for your principles.
Boycotting is very effective and was invented in Ireland.
Google it, I know you will.
WOO

#69 GarRick on 03.19.22 at 9:40 pm

Please God, cut the internet to Faron’s computer

#70 westcoaster on 03.19.22 at 9:57 pm

I don’t know your shot history but even Shaq could have a highlight reel with great free thows even though he sucked overall at the line.

#71 George on 03.19.22 at 10:12 pm

Please God, cut the internet to Faron’s computer

……….

Amen

he’s got to be a lonely guy.

#72 Ponzius Pilatus on 03.19.22 at 10:18 pm

#65 Dr V on 03.19.22 at 8:48 pm
42 Sailo – watched the cool, breezy weather this morn and waited for a little more warmth to venture on a 3+ hr road ride. Ran into other riding buddies who had the same idea. Strava shows other friends riding mountain, trail and snowshoeing.

Life is good! Glad you enjoyed the day!
———
Wow,
Even the Dr. is sucked in by the “Silver Tongued Devil”.

#73 Russ on 03.19.22 at 10:49 pm

Wise Old Owl on 03.19.22 at 9:32 pm

Canada puts itself out as a capitalist country. It’s not!

Drive down the street and check out the gas prices. There isn’t 1, 1 100 of one cent difference in their price per lite, competition what a hoot!
So yes OWN the banks, BUT give your business to a Credit Union.
As for the gas companies, select one, I chose Esso. Why because they are the biggest. Then VOW to never again in your life buy gas there again. If Esso can be taught a lesson the others will learn. …
Boycotting is very effective and was invented in Ireland.

WOO
==========================

Hey Wise,

I am wholly in favour of your position(s).

I own a few of the big banks shares but have a “no fee” credit union account.
Which, incidentally, I started as a wee lad in grade 4 or 5 by depositing 10 cents per week. The teller had a desk in the hallway at the little school I went to.

As for the evil Esso.
When the corporation decided to abandon all the marine based fuel providing stations on the West Coast I decided to never support them again.

I say to anyone who cares to listen that I would rather push my truck past an Esso station than fuel there if I run outta gas.

So far, so good.

Cheers, R

#74 Russ on 03.19.22 at 11:04 pm

.
In the news lately we hear that Canada will welcome many Ukraine, albeit some on a temporary basis.

https://abcnews.go.com/International/wireStory/trudeau-canada-ukraine-refugees-83372023

So this news has to be good for the banks.
All of the refugees, maybe 500,000 or more, will need a bank account to handle the government deposits.

Most of the refugees will be women (preferentially applied).
As the rubber stamp process is only for 3 years landed status, most of these will be motivated to get pregnant with a Canadian citizen father. This will seal the end of term endorsement to remain.

I know quite a few Ukrainian descendant families on the Prairies and these women tend to be focused, motivated and great cooks.
Look out all you lazy Canadian millennial chicks. There is a tidal wave of competition coming your way.

I suggest go long on banks and anything to do with “nesting” in these areas. There will be many guys who find themselves to be working on the home, when they had dreamed of having quads & boats and things.

Cheers, R

There will not be 50,000 Ukrainian women coming to Canada. – Garth

#75 Sail Away on 03.19.22 at 11:06 pm

#65 Dr V on 03.19.22 at 8:48 pm

42 Sailo – watched the cool, breezy weather this morn and waited for a little more warmth to venture on a 3+ hr road ride. Ran into other riding buddies who had the same idea. Strava shows other friends riding mountain, trail and snowshoeing.

Life is good! Glad you enjoyed the day!

——–

Thanks! And likewise.

We ran/walked up Mt Benson from the mostly-untravelled north ridge on smooth, frozen snow under the full moon. Only needed headlamps under the trees. Love that route. Love winter sports under a full moon with the snow catching and reflecting the light.

When moon phase, clear skies, proper temps and weekends coincide, it’s a rare gift.

#76 Cherry on 03.19.22 at 11:41 pm

You never make money on a stock until you sell it.

So, anyone can yammer about buy recommendations…

Where are your sell calls?

#77 Flop… on 03.19.22 at 11:42 pm

Started looking for a rolling toolbox for work.

Due to the magnificence of the internet, I ended up laughing at this T-shirt…

M47BC

https://www.cotosen.com/products/dont-worry-ive-had-both-my-shots-and-booster-funny-vaccine-t-shirt-7076295.html

#78 Ponzius Pilatus on 03.20.22 at 12:00 am

#74 Russ on 03.19.22 at 11:04 pm
.
In the news lately we hear that Canada will welcome many Ukraine, albeit some on a temporary basis.

https://abcnews.go.com/International/wireStory/trudeau-canada-ukraine-refugees-83372023

So this news has to be good for the banks.
All of the refugees, maybe 500,000 or more, will need a bank account to handle the government deposits.

Most of the refugees will be women (preferentially applied).
As the rubber stamp process is only for 3 years landed status, most of these will be motivated to get pregnant with a Canadian citizen father. This will seal the end of term endorsement to remain.

I know quite a few Ukrainian descendant families on the Prairies and these women tend to be focused, motivated and great cooks.
Look out all you lazy Canadian millennial chicks. There is a tidal wave of competition coming your way.

I suggest go long on banks and anything to do with “nesting” in these areas. There will be many guys who find themselves to be working on the home, when they had dreamed of having quads & boats and things.

Cheers, R

There will not be 50,000 Ukrainian women coming to Canada. – Garth
————————
I heard through the grape vine, that Chinese man are infatuated with blond blue-eyed Ukrainian women.
And the Chinese government is actively trying to be a match maker.
Chinese has about 100 million more man than ladies.
That’s a lot of testosterone that could erupt into a major up-rising, any time.

#79 Dr V on 03.20.22 at 12:06 am

72 Ponz. sorry I missed you. How was your day? I got over 16000 pedal strokes, and that is a one L and one R
to each stroke.

75 sailo – a few years ago, a well used local trail received several inches of snow. Packed down by the locals over the next coupla days. Then it rained. Then it cleared up again, got cold and the whole thing froze solid, including some lovely sections of glare ice. Somehow the Mrs and i had timed the purchase of some
trail crampons perfectly. Enjoyed evening walks with the headlamps. Very cool.

Never have quite duplicated the conditions since. Snow usually too soft. I’ll try to remember the early morning suggestion.

#80 PeterfromCalgary on 03.20.22 at 12:13 am

Well all I can say about negative real interest rates is this. “When one door closes another one opens. Other than that it is a pretty good car.”

You may have to consume some alcohol to get the joke.

#81 Dennis Reichman on 03.20.22 at 12:30 am

Proof that buying good companies with low p/e, that make a profit, offer margin expansion, and pay dividends are the only way to go for an investor. All else is gambling. Buying stocks with 300 p/es? RU insane? Maple value is up, overpriced tech way down. Duh!! And pullleeeze, you can’t hobble your account with 40% bonds that pay nothing for the same reason they don’t sell CSBs anymore. The 70’s called, they want your strategy back.

And I guess all of you are following the media exposure of Trudeaus economy foolishness. Please all of you grow up. Politics is not about fluffy hair and costume changes.

#82 Satori on 03.20.22 at 12:36 am

#67 crowdedelevatorfartz on 03.19.22 at 9:15 pm
@#58 Frank
“Why doesn’t the government pay for all our bills, taxes, expenses and we get everything we need, want delivered.”
++++
Give our Prime Minister time.
He’s working on it.
————————————–
He is alone at the dinner table, plotting it right now…
:D

#83 Satori on 03.20.22 at 1:00 am

#69 GarRick on 03.19.22 at 9:40 pm

“Please God, cut the internet to Faron’s computer”
————————————————–
A thousand AMENs to that!!!

#84 Satori on 03.20.22 at 1:16 am

#74 Russ on 03.19.22 at 11:04 pm

“I know quite a few Ukrainian descendant families on the Prairies and these women tend to be focused, motivated and great cooks.
Look out all you lazy Canadian millennial chicks. There is a tidal wave of competition coming your way”
——————————————————-
Tough times in the Prairies Russ?

A little sage advice for from Gandhi might be helpful – “Be the change you wish to see in the world”

The Bearded Prairie Chef offers private in-home cooking lessons

https://www.facebook.com/beardedprairiechef/

#85 Bdwy on 03.20.22 at 1:45 am

#29 Daveyboy on 03.19.22 at 2:13 pm

Is there any ETF available in the u.s. to get exposure to Canadian banks?
……

Probably.
But you can go straight to the target. Ry (and i imagine all the others) is inter- listed.
Trades on both. Yall can buy it in usd at the nyse just like any usa stock.

The cool part is usung it to convert large to very large amounts of usd/cad for near free . Flat 9.99 where 1% is best other option. Buy in one currency sell in the other.

….

Keep an eye on oil as it moves back into triple digits. 150 is still a thing. Global consumption goes upppa.

………

Salio ur a bit misled re the 420 stuff. Sure plenty of losers like it.
(Your stock analysis is mostly spot on but the stocks were run up to the sky by non potheads on insane expectations)

But a the big winners in life who puff always seem more fun and interesting and less square. Musk for example. The cool kids usually weren’t in eng though.

Back in the late 80s some of the “dope-heads” at garths alma matter were scoring the very top prizes in econ and engineering yet partaking in some epic rez bathroom hot box sessions on a regular basis. Important advancments in bong design came out of this period.

One guy had his RE empire to 7 houses in 416 and london while still in school. Hes prob got 200 now.

The really smartest ones were often jewish. Big fans of the green those guys.

Garth has a scotch once in a while id imagine. Losers drink too. The substance does not make the person.

Weed is very subtle intoxicant for able thinkers. More like tea. The lawyer/dentist/computer guy/sales exec./etc smoke buddies of mine in van are no less competent, logical or motivated than as if thc free.

Is buying a tesla demonstrating ability reason? ;)

And yes, my god what a beauty spring day.

#86 Sail Away on 03.20.22 at 6:40 am

Ah, a new day begins! 3:40am for my schedule-tracking friends. Out to change trailer bearings, check brakes, refurb the ground, then shower, a little slap & tickle, short quail search with the dogs, and leisurely breakfast while deciding how best to fully embrace and enjoy another spring gift.

Maybe hike Mt Wesley if the weather holds, followed by Coombs lunch date? Will update as requested.

#87 crowdedelevatorfartz on 03.20.22 at 9:16 am

@#78 prepubescent Ponzie’s paternalistic prattle
“Chinese has about 100 million more man than ladies.
That’s a lot of testosterone that could erupt into a major up-rising, any time.”

+++
I thought that making jokes about European war refugees was beneath even you.

#88 tbone on 03.20.22 at 9:44 am

# 76 Cherry

I make lots of money on my stock portfolio .
I get deposits of free money every 1/4 into my account.
I will never sell my blue chip dividend paying stocks .
I use a cash back credit card and get even more free money. I like the banks . No need to sell .

#89 crowdedelevatorfartz on 03.20.22 at 9:44 am

@#73 Russ.
“I say to anyone who cares to listen that I would rather push my truck past an Esso station than fuel there if I run outta gas.”

+++

Reminds me of the Albertan anti Petro Canada bumper stickers that camp out in the early 1980’s
“I’d rather push my car a mile than gas up at PetroCan”

I saw a lady fueling up at a Petrocan a few months later with one of the bumper stickers and asked, “Did you push your car a mile and a foot”?

.

#90 Flop… on 03.20.22 at 10:51 am

Worst bank I’ve ever had to deal with : Commonwealth Bank, Australia.

Best bank I’ve ever had to deal with: Barclays Bank, U.K

Best service I’ve witnessed by a bank in Canada : CIBC

I’m not a member of CIBC, as witnessed by hanging around here, you can probably tell I like to suffer a little…

M47BC

#91 Sail Away on 03.20.22 at 11:05 am

Dogs treed a momma bear with a last-year cub in our quail park right next to residential today. Hopefully spooked them so they stay away. Previously-bitten pup now nearly healed after nasty infection in the chest punctures that entailed staple removal, drainage, more antibiotics.

#92 Faron on 03.20.22 at 11:10 am

Banks. Not much to add. The SJW in me strongly dislikes the simultaneous fee assault and massive profits. As another commenter noted: I’ll bank at a credit union, but begrudgingly hold banks. Downside for banks is their exposure to a way over-leveraged consumer/mortgage holder. As the yield curve inverts (projected by 2023) and the economy tips into inflation and interest rate recession, this exposure could be quite detrimental. I continue to maintain that the economy is late-cycle given the brevity of the COVID induced crash.

They are a hold with an eye to other opportunities.

#93 Faron on 03.20.22 at 11:12 am

#86 Sail Away on 03.20.22 at 6:40 am

Go get ’em bud. Fit as a horse.

Thanks for updating an anonymous internet crowd on your utterly mundane tasks. Nobody cares. At all. Please note your hypocrisy-drenched complaining about my off-topic commenting as well.

Neutron star density and lack of illumination.

#94 Philco on 03.20.22 at 12:27 pm

On another note
Anyone notice the planet of fear never evnding fear propagagated by you gov and media.
Trudeau is the opitomie of that.
In 2 years i know 2 peeps that had a rough time with covid.
None dead….thankfully
I know people from age 4 months to 95yrs no one died.
I know a shit ton of people. I deal with 2 city halls because me RE locations.
And T2 rushes off to Europe to fix Pooty. What lt a Fing joke that fake dude is. He made a quik exit because he highly critized here.
The sky is not falling. Yes the climate is more erratic for reasons not talked about. Its NORMAL because of celestial events and solar radiatoon changes.
Your stupid ass gov uses all this fear to extend their power and empower more taxes.
Your all a bunch of panssies. Now their upselling new covid crap.
I went to the US. Then we flew to 2 destinations Mexico partied no masks many not vaxxed. No problemo people.
Their going to attempt more control right now on the climate change disater.
Mark my words sheeple. Your just a big experiment for the crooked ellite.
Trudeau is a fraud not a leader of a sovereign nation.
Sorry for grammer mispel4ed dont care

#95 Ponzius Pilatus on 03.20.22 at 12:29 pm

82 Satori on 03.20.22 at 12:36 am
#67 crowdedelevatorfartz on 03.19.22 at 9:15 pm
@#58 Frank
“Why doesn’t the government pay for all our bills, taxes, expenses and we get everything we need, want delivered.”
++++
Give our Prime Minister time.
He’s working on it.
————————————–
He is alone at the dinner table, plotting it right now…
:D
————————
You got the wrong guy.
That’s Putin, sitting on his long table.

#96 Russ on 03.20.22 at 12:37 pm

Satori on 03.20.22 at 1:16 am

#74 Russ on 03.19.22 at 11:04 pm

——————————————————-
Tough times in the Prairies Russ?

A little sage advice for from Gandhi might be helpful – “Be the change you wish to see in the world”


===========================================

Hi Satie,

I see you missed the point of the comment entirely.

Do not let this bother you too much as it is very common among the Blog Dogs.

Yap yap yap

Cheers, R

#97 Michael on 03.20.22 at 12:59 pm

Also be mindful of Fintech developments. 1-2B people in the world still do not have access to financial services. Canadian banks are in a great position where they have the safe backing of steady and profitable businesses in Canada while they they can make attempts to expand into new markets with their backing.

With Software as a service, cloud computing, AI, and automation, block chain (not any particular currency however) etc.. banks have very quickly been transforming into technology companies. The fintech developments of 2008 until today are IMO something to marvel at when compared to 70s – 2008. It is insane almost how much efficient and instantaneous the payment and deposit system has become.

There is lots to do in regards to refreshing their many legacy systems that exist in silos. At the same the banks have have access to decades of customer data that can be analyzed to obtain insights. Although the technology and systems change, people and their behaviors do not. Even start ups don’t have this kind of data.

#98 Ponzius Pilatus on 03.20.22 at 4:15 pm

#87 crowdedelevatorfartz on 03.20.22 at 9:16 am
@#78 prepubescent Ponzie’s paternalistic prattle
“Chinese has about 100 million more man than ladies.
That’s a lot of testosterone that could erupt into a major up-rising, any time.”

+++
I thought that making jokes about European war refugees was beneath even you.
 ————————-
So, tell us what you are doing to help out the refugees from the Ukraine?
Put your money where your mouth is.
Talk is cheap.
I, for one, am content in my walking shoes, that my yearly donations to UNICEF, albeit small compared to the need, will help children in “all ” war zones.
Children should not suffer for the sins of their fathers.

#99 protea on 03.20.22 at 5:53 pm

“At the start of last year, central bankers insisted that inflation would be temporary, arguing that acute supply shortages would be resolved as soon as clever executives and logistics experts figured out how to navigate supply bottlenecks.”
Just over one month ago Bank of Canada governor Tiff Macklem said the current inflation scare is mostly a supply issue. If he’s right, the central bank’s path back to higher interest rates might not be as steep as some on Bay Street currently think it will be.
How does this Trudeau lackey keep his position would love to know how much he earns per. annum !! anyone know !!!

#100 John on 03.20.22 at 6:05 pm

Danny, you and your wife did two things right, you paid off almost all your debt having over 80% equity in your house plus you really maxed out your RRSPs, TFSAs giving you 62% of your current gross income, $49,000 interest of $79,000 income. Most Canadians do not have $49,000 a year GIC interest income. This shows you are in a better income category than most. You were and are still good GIC savers and using a 3% to 3.75% rate is not the best interest environment to do this compared to past years 4.5% to 6.5% GIC rates earlier in the decades, 2000 to 2008. However, you are both disciplined with your finances and I respect you both for that.

#101 Terry on 03.20.22 at 6:20 pm

Doug Rowat, I have been buying GICs for many years with various credit unions, banks, trust companies and Canada and keep within the deposit insurance limits, $100,000 CDIC and $250,000 FSRAO. In 2019, many credit unions in Ontario were paying 3.5% to 3.75% so it is not unusual and risky if staying within the guaranteed deposit insurance limits.

I would say CDIC has not been increased since 2005, $60,000 to $100,000 last increase so a bump up should be in order, going by inflation numbers, $160,000 is probably the correct new CDIC deposit insurance limit for today. It is 17 years, they should do it this year.