Sun Life Financial Inc (SLF-T)

If you own, hold on. Yield curve is somewhat favourable to them as it's normalizing (with short rates dropping and long rates staying put here and in US). Valuation is fine, below the banks. Delivered on last 2 quarters. Not much growth. MFC has done better job expanding in Asia. Decent yield.

MFC is such a complex company, really hard to figure out. If he can't figure it out, he just stays away. If you compare the two right now, SLF is incrementally more profitable and more transparent. Nothing compelling about the price.

Insurance is the space to be, but is this the one to buy? Had some challenges with US side, though beat recently and trends are starting to be more encouraging. Really nice dividend. 9.5% growth rate, trading at 10.5x PE for 2026.

If you own it, hold. But for new $$, he'd prefer MFC or POW.

Chart looks great. Above 200-day and 200-week MAs, which are both moving higher. Not explosive growth, but steady eddy instead. 11-12x forward PE. Pretty decent dividend of 4%.

Now is a good time to take some money off the table. Financials have outperformed the fundamentals in the next few years. Wait for a better entry point, when the market dips as it did in early April, which he expects in the near future. Good company, track record and dividend. No problem with SLF fundamentally.

Their last quarter was penalized due to some stop-loss insurance on their books and a small impairment from an investment in Vietnam and softer flows at MSF, their US investment arm. Is now in a range worth buying. This and MFC remain core holdings of his. It yields a safe 4.13%

Start with valuation -- 10x 2026 for 12% growth. A few bad quarters with a weaker US, which caught market by surprise. Outlook improving. Worst-case on the tariff war (which is not his base case), there will be less $$ floating around to buy insurance products. 

Don't buy this name right now. Longer term you're fine. Steady compounder, safe dividend that will grow. Instead, he'd buy MFC on its cheaper valuation (which, for him, makes it safer).

Its EM exposure was always viewed positively because it helps to propel growth. That's flipped a bit against it. Very well run, attractive dividend. An income name. If you own, just sit tight. He owns GWO instead.

Over time it should get back to $88. Life insurance companies have less exposure to tariffs and recession than banks. Banks are more vulnerable to rising unemployment. Near term, life insurance companies are better buys than banks but longer term banks are better.

As a value investor, not growth, he didn't like SLF when markets were ripping higher late last year. However, if this falls down to its trend line of $70, he would buy.

Best-performing insurer through the financial crisis. Largest foreign insurer in India, so not just in Canada. Great job in life insurance and asset management. Conservatively run. Steady dividend grower. Looking for 7-10% earnings growth over time. Core holding for him.

Some weakness in recent results. Sometimes when a stock's run up, and results come in lighter than expected, stock sells off on a trade. Fundamentals haven't shifted significantly. Relatively stable earnings, so it's good for income. Asset management divisions can be lumpy with interest rate moves. Reasonable investment for income with some growth.

She owns CB.