The earnings they reported were quite strong. The US financials have been weak this year.  There is still concern about the US economy a year or 2 out.  He favours Bank of America. 

The U.S. market is outperforming Canada, so he prefers financials there than here. MS had a recent pullback, but feels it will do well going forward. The U.S. financials will move in a pack. You should get a decent return in MS in the next 12 months.

(Past Top Pick, June 25, 2018, Up 5%) Disappointed it didn't reach the $50's by now, given how the U.S. economy is doing. It should be moving up.

He would stick with the big banks pure play more than the capital markets. Over the short term particularly more likely to see an upward movement on the money centered banks as they have underperformed recently.  

An inexpensive stock. MS has a strong wealth management business and huge retail brokerage business that have really helped them. However, MS doesn't really have a retail banking franchise, so they lose that cushion in times of volatility. That said, this is one of the top investment banks around. They've enjoyed good numbers. You can do well with this. Good stock, but he prefers the more retail-oriented BAC.

Right time in the cycle to own a name like this. Wealth management, broader exposure to the US investment management business and investment banking side. They favor Bank of America Corp (BAC-N). It has more operating leverage. 

40% of their earnings come from wealth management.  They recovered from the financial crisis and are now increasing dividends.  They trade at a very low multiple, as is the whole sector.  (Analysts’ target: $61.16).