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M* switches their risk rating on Canadian banks to HIGH. (Additional post, now)
M* is not perfect. Far from it. But I think it's worth paying attention to. CIBC (CM ticker) remains a 5-star bargain, according to the same source. https://www.morningstar.com/stocks/XNYS/CM/quote
Steve Eisman. One of the "Big Short" guys from '08-'09: "...Eisman did not specify which U.S. banks he was long. He also said “some” European banks would make for good short positions along with Canadian banks..." (Shorts???)
Eisman reckons the biggest US banks would be a good play..... Here's the link: (CNBC.) https://www.cnbc.com/2020/04/23/big-short-steve-eisman-likes-the-big-us-banks-after-coronavirus-sell-off.html ______________________________________________________ In addition: “The Canadian banks, I think, have not had a credit cycle in literally 30 years. They are not prepared for it and they’re going to have real problems,” he said, without specifying which banks he was betting against..." *** Please, can someone translate that for me? Thanks.***
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Eisman reckons the biggest US banks would be a good play..... Here's the link: (CNBC.) https://www.cnbc.com/2020/04/23/big-short-steve-eisman-likes-the-big-us-banks-after-coronavirus-sell-off.html
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In addition: “The Canadian banks, I think, have not had a credit cycle in literally 30 years. They are not prepared for it and they’re going to have real problems,” he said, without specifying which banks he was betting against..."
*** Please, can someone translate that for me? Thanks.***