Canada’s big banks aren’t normally known for being punching bags, but concerns raised recently around potential loan losses and the housing market have led to a new round of skepticism in some investing circles.
“While some market participants may see as a non-recurring misstep, we caution that the sector is likely facing an inflection point in the credit cycle, and that investors should reduce exposure to Canadian banks ahead of an acceleration of credit losses,” D’Souza said. At any rate, Veritas has sell recommendations on the shares of all of the Big Six banks, having most recently downgraded Bank of Montreal, saying “its current valuation is above its historical premium relative to peers and expect shares to come under pressure as the sector multiple contracts over the coming quarters.”
What does it matter, if the banks go tits up the taxpayers have to bail them out.
Ban bitcoin crap while they’re ahead would proactive.