Ryan Bushell TD Bank TD.PR.T-T HOLD Aug 18, 2023

Money laundering issues a concern - will be costly. Stock trading at discount. Strong US footprint. Company business model bruised, but not broken. Would be interested in a small position now. Capital adequacy very strong with good brand name in Canada. 

Keeping an eye on treasury yield before investing in major banks. Climbing treasury yield (~4.25%) indicating investors don't think rates will fall as quick as originally thought. Would wait before investing in banks. If rates fall, good time to buy. 

Excellent dividend with oligopoly market position. Would recommend holding position. Recent pressure on stock creating a buying opportunity. Anti-money laundering lawsuit a short term concern. Long term - is a great investment. 

Money laundering scheme is difficult to determine in damage. Will take time to see how lawsuit plays out. Would recommend holding for now. Strong business franchise with near oligopoly in Canada. 

Shareholders in company - current share price a good place to buy. Fines and anti-money laundering investigations a concern for investors. Large amounts of money will be involved to beef up compliance requirements. Appears regulator won't be too harsh on company. Will continue to own share - is a dominant franchise with good business prospects. 

Business has entered a tough phase. Anti-money laundering lawsuit appears to be getting worse. Would not recommend investing at this time. Better names in Canadian banking sector without the risk. 

Hard to determine short term outlook of the business with recent legal issues. Long term, will be a good investment, however stock is depressed now. Strong brand name and franchise, but company in for tough times going forward. 

Despite recent lawsuits, could be a good time to buy. Strong assets with good bran in Canada. Weakness in share price could be a good time to buy. Would watch closely and/or buy now. Good for long term investors. New management team will also be good for the business. 

We think $78 is a good buying starting point. 
Unlock Premium - Try 5i Free 

Would recommend buying here. Bad news is out of the way. Probably will increase going forward. Excellent brand name in Canada. New management team should be able to increase trust in the company. Falling interest rates and relaxed capital requirement rules will provide tailwinds for company.