Toronto-Dominion Bank (TD.TO)

(A Top Pick Nov 13/13. Up 16.21%.) Thinks this is the best in breed in Canada. It has done international expansion right. Focused in the best part of the US. Thinks it is in the right places. They have the ability to cross sell.

Has been underperforming the others a little bit over the last 2 or 3 months. 6% off the high back in the summer. There may be some concerns over the change in leadership, but the new person stepping in has been with the bank for many years. Great exposure in the US. Huge deposit base there, that they will hopefully exploit. The multiple is back in line, if not lower than some of the others. 3.5% yield.

(A Top Pick Oct 21/13. Up 20.82%.) His favourite bank globally. Have had a great growth record in North America, and he thinks that will continue. Yield of 3.46%.

Excellent choice. Good long-term. Doesn't know if he would add any right now. The retail bank is expected to grow in 2015 between 4% and 5%. That's not bad, but the bright spot for all these names is wholesale. Underwriting fees, marketing fees, mutual funds, etc. Those areas may take a step back if the bull market that we have seen gets a little bit challenged. It depends on their guidance and if this market stays sloppy. He is betting that we are not completely out of the woods yet and it is going to be a bit of a bumpy ride. You can add to your holdings at a little bit lower level.

Doesn’t follow banks closely, but they are getting caught up in the selloff as well. Pay nice dividends. One cautionary note that he would strike is that he is a little worried about housing prices. To him it is inevitable that there will be some kind of correction. That may hurt the banks, which may be happening right now. It is hard to go wrong with banks in general.

With a pull back in the Canadian banks, this is a good time to Buy. She still expects high single digit earnings growth in the banks, and they will continue to increase their dividends.

(Top Pick Sep 11/13, Up 24.63%) Still likes it. They will have a weakish quarter coming up, but then next year will be better. The US side will be large beneficiaries of higher rates. A good entry point now.

Any time you get a chance to accumulate Canadian banks on a dip it tends to be good long term. This is a top tier bank with a great franchise.

The one bank that has a higher US presence and he is quite bullish on the US side. The trend is up and it is pulling back to the trend line. If anything it is a buying opportunity.

If he was going to own a bank other than BNS-T in Canada, it would probably be this one, but he would prefer to go to the US and get one there directly. This one is fine if you are a longer term investor.

One of the best Canadian banks. That it has been down for the last few days is neither here nor there. They will have more branches in New York city than BAC-N within 6 months to a year. It is a great story and you should hold it for a long time.

A pull back is 5-10% to him. He prefers the ZWB-T ETF to play banks. He does not like the level of the banks right now.

A great story going forward. Sees 5-6% growth plus dividend over the next year.

(A Top Pick Nov 7/13. Up 22.7%.) You can’t go wrong with Canadian banks. What differentiates this from other Canadian bank stocks is that they have such a large US presence. Have more US branches than Canadian ones. They are the #3 player in the tri-state area.

With your bond background, how do you approach a stock like this? Her approach to this is the same as her approach to any stock. It is whether or not the risk area of the market is a good idea at the time. You have to deflect to the bond market and not to the earnings for this bank as that is backwards looking and the bond market is dynamic current and forward-looking. If we are in the stage of the cycle that is positive for equities and the bond market is supportive of that, it means the banks are making money. She likes this bank.