Opinions
Bruce Campbell (1)
iShares S&P/TSX Capped Financials Index ETF
XFN-T
COMMENT
May 02, 2014
$30.050
Stock price when the opinion was issued
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DON'T BUY
Don’t use it. It is broad financials. Insurance companies will be impaired for a number of years. If you want banks go with ZEB-T, but don’t buy it here.
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BUY
Gotta likes the financials. Not expensive relative to the market right now. As interest rates rise, and the steeper yield curve would be a plus for them. Banks and value outperforms large cap tech in a rising rate environment. It looks like this is coming. Some of the good news is probably priced in.
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BUY
Allan Tong’s Discover Picks In 2021, XFN climbed 31%, which actually outperformed Royal by 3%, but lagged TD by 3%. BAM.A, though, soared 45%. That said, XFN's performance gets a passing grade. Meanwhile, average daily volumes run at 227,000, which is enough to avoid volatility. XFN is currenly trading near its $51.26 52-week high. As rates rise, so will XFN. Read Best Financial Stocks in 2022 for our full analysis.
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Canadian financials have actually underperformed year to date. It depends on what energy is going to do. This won’t be a wildly underperformer or outperformer. If the market were to pull way, way back, he thinks the banks will outperform by going down less. He prefers cherry picking insurers and banks and hopefully outperform the ETF by a couple of percents if you get them right.