|OPTIMISTIC||NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)||Unknown|
Canadian Banks. These have been good long term stocks to own, but in general, US banks are more attractive. They’ve been depressed and valuation multiples have been about the same as Canadian banks. However, the environment is going to be better as far as rising rates for better net interest margins. The US housing market has recovered, but still has room to grow, whereas the Canadian housing market has concern that it is at a peak and is leveling off.
CEO & Portfolio manager, JC Clark Investments Ltd.
A general comment on Canadian Banks as the guest was not familiar with the viewer's inquiry on CIBC's PPS (Personal Portfolio Services) product.
Last time I checked, CIBC offers 6 - 8 types of PPS accounts ranging in risk profile from conservative to aggressive. The financial advisor will try to match you up with the appropriate PPS account based on you risk tolerance.
The PPS accounts holds units of CIBC's mutual funds in varying proportions (i.e. Conservative PPS account will be heavily weighted towards fixed income).
As mutual funds are involved with these products, you can expect fees to be on the higher side. In addition, you will also need to pay for the professional portfolio management (as they are supposed to adjust the asset mix according to their outlook on the market).
The idea of these PPS products is to provide clients a 1 stop shop for their entire investment needs where it will be managed by a professional advisor.
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