Canadian Imperial Bank of Commerce (CM.TO)…

Canadian Imperial Bank of Commerce (CM.TO)

159.59

-1.41 (0.88%)

as of Oct 23, 2026, 8:00:01 pm Market Closed.

1039 watching

PAST TOP PICK

(A Top Pick Sept 12/07. Down 44%.) Ended up with more impact on the US side than expected. Odds are they're going to have to take another $1 billion or so write-downs again. Sold some of his holdings. Looking for better times once we are through this difficult period. Always buys this as a pairs trade with Bank of Nova Scotia (BNS-T)

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DON'T BUY

Has traded up underneath the point that it has broken down on the last leg down. Expect this will pose some resistance technically.

COMMENT

(Put Options) A Put is protecting your downside, which is a wise move. (Like buying insurance on your stock.) Not a fan of banks right now. You might consider HBP Global Gold Bear (HFD-T), which is a great way to short the Canadian Financial industry.

DON'T BUY

Situation is deteriorating. There are consistent lower revisions to the earnings estimates. Probably the weakest technically of the Canadian banks. Difficult sector. He is Short this company.

COMMENT

Re: Bank of Montreal (BMO-T) and CIBC (CM-T). Doesn’t think the banks are going anywhere for the next 3 months. You could Buy them here although they have a ways before they really turn. In the meantime you will get a dividend.

DON'T BUY

Still very cautious on the banks. Significantly more write-offs to come, especially in the US. This could rub off on some of the Canadian banks. Holding off on buying any banks until the end of this year or the beginning of next year.

PAST TOP PICK

(A Top Pick July 13/07. Down 35%.) The bank that everyone loves to hate. On a core earnings basis, they are still capable of earning $7 a share. Expecting more write-downs, but the market is overestimating their problems.

DON'T BUY

(Market Call Minute.) Would avoid this one until some of the asset write-downs are at little bit clearer.

DON'T BUY

Expect there is more hurt coming in the global banks including Canada. We are in recession in many parts of North America and there will be loan losses. This one is back to its historical position of beating the riskiest Canadian bank. When times turn, it is the riskiest bank that will do the best.

BUY

Canadian banks are well established companies with good dividends and good long-term growth. Everybody should own 2 or 3 of Canada's top line banks. This one is a bit more speculative because of its brokerage exposure etc. Prefers Bank of Nova Scotia (BNS-T) but this is an attractive company.

DON'T BUY

Dividend is safe. Have raised an enormous amount of capital and is well capitalized now. Very speculative.

DON'T BUY

Street has pretty well lost confidence in this bank's risk management. Wouldn't buy until there was some evidence they had straightened things out and they won't have another disaster.

COMMENT

His view on bank stocks is that we are kind of in the eye of the hurricane. If anyone thinks that the credit problems are done and over with, they have another think coming. Wouldn't be surprised if there were fears that Canadian banks could cut their dividends. He doesn't see it happening.

BUY

Profitability of a Canadian retail franchise, with a comfortable oligopoly in Canada gives you a wonderful base in earnings. You’ll probably take more money in this one in the next few years than you would in the more stable banks.

DON'T BUY

Last time they had a disaster, they bounced back and people made a lot of money and who's to say they won't do it again. Not the bank that he would choose to own because of their proven track record of making it really bad, big mistakes.

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Canadian Imperial Bank of Commerce (CM.TO)