Bank of Nova Scotia (BNS.TO)

As of yesterday, 80% of companies in the financial sector in the S&P 500 made 21-day highs. The sector's had a broad rally; over 80% are trading above 200-day MA. 25% of his firm's assets are in financial services, overweight. He likes to buy "good, getting better", not "broken, getting fixed".

Going through a navel-gazing transition. Long, dry spell for shareholders of not making money. Market's warming up to it. One to watch, though RSI versus the S&P and TSX hasn't picked up.

It'll have a long turnaround, but it's the cheapest Canadian bank with great Canadian operations.

They cut exposure in Latin America to increase exposure in North America. All good, but it takes time. She and the street were surprised they just bought a stake in KeyCorp. Shares pulled back. Usually, a Canadian bank buys a company entirely, not 15%. They could have paid a better price.  Is holding it, given the low PE and good dividend.

His top pick in Canadian banks. True, many don't like their KeyCorp purchase, but it gives BNS national presence in the US and the valuation is cheap.

It is one of their top three bank holdings and is very international with divisions in Latin America and the U.S. It is good for diversification and getting to an attractive valuation as it tales good steps to improve things. He feels that the market reaction to its $2 billion acquisition was overdone.

Struggled in general, and relative to Canadian peers. Biggest pullback in 2022. Sideways since then, with a low of $55 and high of $65. Drifting. You're just collecting the dividend, as stock's not doing much.

New CEO and a new plan. Rationalizing Latin American operations, hopefully that works; interest rates coming down should also help. Time will tell. He's equally bullish on both names, for different reasons.

It is OK at these levels but cleaning up is needed. There is a question around whether the CEO is just in a caretaker role. He owns a small position. Has a good yield.

He owns 4 Canadian banks which are enjoying a tailwind from interest rates which will continue to decline. BNS wants to sell their Latin American assets and might re-deploy to the US. He's watching this and their new CEO. He's not drawn in by their big dividend.

The previous CEO left and the new one is solid which should be good for a turn-around. He doesn't see a dividend cut so it is a good hold for income.

Has sold shares, and invested elsewhere. Seeing better opportunities in other names. Bank of Montreal/CIBC is better option for investors. 

Softness in Central and South America markets caused shares to trade down, a buying opportunity. Focusing on higher-return projects. Thesis is still reversion to the mean, already up 15% from October 2023 lows. Impressive 6.5% yield.

Couple of weeks out from Canadian banks' earning season. Has come down a bit, breaking $63 of support. Descending triangle -- lower highs above a fixed support level, and that's now been broken. It's facing distributions: more motivated sellers than buyers.

You own this purely for income, and you need a part of your portfolio for income--for retirement. It's a great income stock, though share price growth is not high. He prefers TD first, and BNS next. We're a low point in sentiment for banks, interest rates will declines, the bank net interest margins will lift and profits will expand. Sit tight and let it play out. BNS has a strong domestic and emerging market bank operation. Also, the valuation is low now.

He owns no banks, mainly because they're not founder-run, founder-owned. Doesn't mean they can't be managed well, but for him that's a hard "no". ROICs have been in low-mid double digits, not bad, but hard for a company to grow at a greater rate than its ROIC.