Latest Stock Buy or Sell?

Canadian banks today. Likes the Canadian banks on any day that ends in "y". Owns 3 of them as core holdings, and expects they will be for years to come. Stable oligopoly, great governance, great franchises diversified by geography and line of business, probably another year of record profits. Continue to own and buy.

Markets - worry vs. moving higher. It's true. A lot of people spend time chasing their tails worrying about the next crash. Corporate profits grow alongside the economy, and so markets make new highs. The pandemic recession was nasty and broad, but short, followed by a swift recovery with strong housing, record sales, strong industrial production, employment gains. Stocks aren't really that expensive. One of the most stable metrics of value is book value. TSX trades at 2.2x book value, a bit of a premium to 35-year historical average of 1.9x. But you have to look at what you're getting in ROE, which is pretty strong right now with the TSX cranking out about 11% of ROE. Market is fairly valued, so we should have returns in line with long-term averages, which are high single digits. His job is to try to beat the average by identifying stocks, sectors or themes that the market is mispricing.

One of the premier income stocks on the TSX. North of a 10% yield over the last 5 years. Very long reserve life. Low risk operating model, except for the cyclical commodity pricing. Quality asset. Buy it here pretty comfortably.

Likes it, continues to buy. Geographically well diversified. Q2 earnings last week look tepid on the surface. Earnings grew 6% Y/Y. Grew organically 17%, and this is respectable. Global wealth and asset management grew 50%. A secular grower. Undemanding valuation. Trades at 7.5x earnings. Good combination of quality, growth, value. Yield of about 4.5%.

OSFI restrictions being lifted? Tough call to say when handcuffs will come off. Probably after October, but a chance that it will be pushed out to 2022. When you buy quality businesses, you're not renting them for a day or a week. You own them for the long term. So whether the dividend increase comes in November, or not until January, is neither here nor there.