Bank of Nova Scotia (BNS.TO)

(A top pick October 18/17, down 1%) This one is still in the starting gate. This is the heaviest weighted bank in their portfolio. Scotiabank is the poster child for emerging market exposure with operations in Mexico, Latin America, and South America. They are getting bigger in those geographies. And have double downed on wealth management with the acquisition of MD Management. Sentiment changing in emerging markets should put it back on track.

This is part of his Canadian portfolio. From the point of view of Canadian holdings, this is a good company to own because they’ve made two good acquisitions on the wealth management side. These will be accretive. Also the market seems to be successfully absorbing higher interest rates. Over the longer term, this has been a solid performer and it offers a good dividend yield. That makes it an interesting story even from the global perspective. (Analysts’ price target is $86.29)

The Mexican election is a near term potential uncertainty. He would prefer TD or Royal Bank – those with good assets in the US. He would continue to hold and ignore the near term issues. He likes the South American exposure for the long term.

Likes it. Consolidating for 2017-18. Now at low end of that range. It’s a laggard in the Canadian banks. Use a stop of around $72.80.

They lead the way in terms of trading at a discount. They have a strong footprint in Canada and have expanded internationally. If you are a longer term investor this one is appealing over the others. There is more volatility.

They have been adding to their holdings of this bank. During a recession you would expect loan losses to impact all banks, but BNS-T has been diversifying into South American assets of high quality.

He only has TD-T and BNS-T. What will throw BNS-T forward is the Canadian business. Their 20% plus ROE they invest in Latin America / Caribbean. The long term strategy is good. In the short term, who knows.

They've been punished more than their peers. They just acquired some top money managers and the street punished them. There'll be a write-off this quarter, but long-term these additions will benefit BNS. Pays a great dividend and should be enough growth to perform well. Well-managed. (Analysts' price target: $86.40)

(Past Top Pick, June 7, 2017, Up 4%) They're exposed to South America which are tied to commodities. So if there are commodity worries, then it effects this stock. He believes in management's investments in technology and that their Latin American presence will pay off in the long run. It remains a major holding for him and he will stick with it. It's a good buy here.

She owns different Canadian bank stocks, including TD. If she was setting up a new client, she would buy BNS today because of its price. The stock pulled back because of it issued equity to finance some large acquisitions. For the long run, the price will recover. It is a well-run institution.

He has it in a portfolio that only wants income as well as in a growth platform. The recent area of support seems to be being held so he added to his position recently. If it breaks below $75 he would want to end the trade. Otherwise he feels it will return to the $80 area.

The stock is close to its 52-week low, dragged down by 2 factors: (a) It is the most international bank and EM markets have struggled this year. A strong US dollar hurts emerging markets. (b) They have done acquisitions and issued shares in the process. He owns this stock despite its price pressure. “You don’t ever go really wrong by buying the Canadian banks.” They are an oligopoly, they have great management teams and they always tend to recover. This is a trading opportunity: good value, good volatility, but weak price momentum at this time.

Getting hammered recently, perhaps because of concerns in Mexico, where it’s the second largest bank. This is not a good reason to sell. Good yield. May have bottomed here, looks like a good time to buy. Yield is 4.4%. (Analysts’ price target is $86.40.)

This is the only Canadian bank they own. This is the most international bank in Canada, with more assets being owned outside of the country. These assets are not in the US. It has been hitting recent lows. When it sold its CI holdings, getting out of mutual funds, they have been buying a large asset manager and a private client business focusing on physician investors. The problem is the market feels they may have overpaid for these investments. Yield 4.4%. (Analysts’ price target is $86.40)

It trades at a discount to the major banks, has a better yield and has done some smart wealth management acquisitions. Yield 4.4%. (Analysts’ price target is $86.40)