LB-T vs. BNS-T. Both are safe. He owns BNS-T. It is never a good idea to chase yield. BNS-T is the most international bank in Canada.

It pays a good, safe, dividend. A great deal of its assets are in Europe. Investors don't like that they made an acquisition of a company with a lot of assets in Saskatchewan.

He owns two others. Recently there has been a lot of talk about infrastructure but not an awful lot of work being done. He likes the industry long term. Short term it has more to do with what is in their portfolio of projects and he says don't buy.

They were doing okay as long as US housing was. Canadian business is almost irrelevant. You want to buy when it looks like new home construction is picking up. It is too early to look at this company.

Long term his outlook is good. They went through their restructuring. They bit off more than they could chew in a recent acquisition. Their outlook has improved substantially. As interest rates go up, however, they get hurt as a lot of investors buy them for the dividend.

A medium sized investment manager. They service high net worth individuals and institutions. They charge performance fees. It is a profitable business when markets are going up. That is not where they are now.

The forth biggest bank in the US and the second biggest market cap in the word. Previous management sold inappropriate products to customers so they are in the penalty box with regulators. It has a great franchise, growth prospects look good but sells at a discount. He uses this as an opportunity to buy the stock. He refers the banking environment in the US. They are much more sensitive to rising interest rates, in a positive sense, to Canadian banks. (Analysts’ price target is $62.43)