John Hood
BMO Canadian Bank Income Index ETF
ZBI-T
TOP PICK
Feb 22, 2022
New product. 60% Canadian bank bonds, 25% instruments that work like preferred shares, but pay out income. Based on the Canadian banking system, which he's very confident in. Yield around 3%.
(A Top Pick Feb 22/22, Down 7%) It was a new product, a split between a preferred stock and a bond. It was paying a full point more than anything else. He was sitting in cash then. He bought a little of it and it disappointed. He will sell it.
Came out a few years ago with LCDN's (limited recourse capital notes) to add another dimension to the income stream of the banks. The markets was attracted to this for a while, but no longer. He once owned this.