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reddit-comments-CanadianInvestor

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m045mgg

Thank you! People really need to get that a covered call / premium-based fund is not giving you a 'fat dividend' but simply providing you with diluted options premium. The fund skims via higher 'active management' MER and retains income generated by the spread between premium collection (e.g., weekly selling) and premium distribution (e.g., monthly payouts). 

Necessary-Shallot976

/r/CanadianInvestor/comments/1h2vyc4/should_i_buy_hmax_umax_for_the_short_term_1314/m045mgg/

t3_1h2vyc4

t1_lzm984q

m047ac6

Have some fun, buy some shopify and journal the shares

YamEnvironmental4432

/r/CanadianInvestor/comments/1h4d765/thinking_of_switching_from_bmo_to_wealthsimple/m047ac6/

t3_1h4d765

t1_lzzrig3

m047kch

iTRADE. They were non-redeemable before maturity.

Extreme-Winter-9739

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m047kch/

t3_1h4z5nc

t1_m0450lb

m0488nj

To further add to what everyone else said, the Canadian versions of these “exotic” ETFs are/would be also trash. I can bet you, if GlobalX had a similar offering it would have a MER that’s at least 50%-60% higher than the American counterpart. Take the example of LETFs. You have SSO & QLD at NYSE which have a MER of 0.9% and you have HSU & HQU at TSX (both are CAD hedged) which has a MER of 1.5% for the exact same thing! Overpaying by 60% for the same performance is crazy.

ChickenMcChickenFace

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m0488nj/

t3_1h5767e

t3_1h5767e

m04ahfb

Thanks for taking the time. My risk tolerance is quite high. I currently do all my non retirement banking with Desjardins and I remember having an old DISNAT account which must be closed by now so I would be familiar with them. I believe they don’t charge fees on trades and also no fees if a LIRA has more than 15k but don’t quote me cause I may be remembering wrong.

Vince-in-Montreal

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m04ahfb/

t3_1h573s7

t1_m03x9l0

m04am0a

Hey there thank you for the response. I think you might be misunderstanding my question. All good, I've received plenty of advice. Thank you again for taking the time to write something up!

CinnamonBits2

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m04am0a/

t3_1h4z5nc

t1_m02s1d4

m04aoza

Thanks for taking the time. This is great starting point for me.

Vince-in-Montreal

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m04aoza/

t3_1h573s7

t1_m03w7e5

m04azo1

I’m Not sure if the funds gains shown here are net of fees. (I’m a hopeless noob lol) Fund has had great returns so far I just worry about them keeping up long term.

Vince-in-Montreal

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m04azo1/

t3_1h573s7

t1_m03ysts

m04b2j7

Both shown net of fees

torontowrist

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m04b2j7/

t3_1h573s7

t1_m04azo1

m04b6rw

Just buy CSU and call it a day buddy

bmathew5

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04b6rw/

t3_1h5767e

t3_1h5767e

m04d3r2

Most likely it was written a little confusing as sounded like you were switching from a TFSA to RRSP that threw me I assume you just wanted to ask about a self directed RESP Our RESP was with TD Investing they had nothing to do with it in reality until it came to withdraw funds. Just be aware not a lot of institutions really understand the RESP Glad you got the information you needed

greyoldguy58

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m04d3r2/

t3_1h4z5nc

t1_m04am0a

m04dibr

MAGS is just 7 stocks not sure why an ETF is necessary for that really. I'm not sure I'd pay someone 0.4% per year just to hold seven stocks but I guess if you have high fees and purchase frequently it can be more convenient I suppose. TEC.TO is still a technology based ETF with at least a bit of international exposure and far more diversification than MAGS something like 240 holdings not just 7 while still being overweight in those seven. TECH.TO will also get you what you're looking for but you'd have to add the darling of tech NVDA to it as it doesn't hold it or TSLA.

TABid-5073

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04dibr/

t3_1h5767e

t3_1h5767e

m04dzxz

Questrade also has self directed RESPs. I recently swot he'd an account from Questrade to Wealthsimple, it was very simple going that way. I doubt QT will be much different. Jump on the chat feature tomorrow and see what they say. WS even covered the fees for me.

_name_of_the_user_

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m04dzxz/

t3_1h4z5nc

t1_m026xbh

m04ejfj

I thought the only fee was just returning the grants back to the government, but the money you contribute is still yours, as well as the interest that money gains. Am I mistaken?

_name_of_the_user_

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m04ejfj/

t3_1h4z5nc

t1_m02s1d4

m04h65c

Here's hoping! I'm still stoked about selling my entire TD position one week before the big fine announcement.

ether_reddit

/r/CanadianInvestor/comments/1h4sgfw/daily_discussion_thread_for_december_02_2024/m04h65c/

t3_1h4sgfw

t1_m01vcw7

m04hpji

Without seeing full financials over the last 5/7 years it is almost impossible to say what the value is of 25% of the business. But net profit margin is usually used to value a restaraunt.

yummi_1

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04hpji/

t3_1h5a9ot

t3_1h5a9ot

m04i924

Understood. Thank you for explaining it so well!

thedigitalmonkey

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04i924/

t3_1h5767e

t1_m04dibr

m04i9vh

A business is usually worth a multiple of EBITDA or cash flows. Franchises can be worth 3x to 8x EBITDA, depending on the brand and how well the business is performing. Let's say for argument's sake that it is 5x. You buying 25% would be 1.25x.

EitherDevice

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04i9vh/

t3_1h5a9ot

t3_1h5a9ot

m04ikcc

Gosh! That stock is did so well in 2024. Their website is so basic though.

thedigitalmonkey

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04ikcc/

t3_1h5767e

t1_m04b6rw

m04in24

that would be on the high range of a valuation here's an interesting read [How to Calculate a Restaurant Valuation (Part II) - The Fork CPAs](https://theforkcpas.com/valuing-a-restaurant-part-ii/)

CluelessStick

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04in24/

t3_1h5a9ot

t3_1h5a9ot

m04it3k

If your kids don't go to University and you want to get the money out of the RESP or close the account. The CRA will also want taxes on any earning as they will then consider it not registered From Sun life website if you do not use the money for education and want to withdraw also they are correct in the last paragraph. # 4. Close or withdraw money from the RESP When you close an RESP without using it for your child’s education, you must: * Pay taxes on the money the investment has earned. * Return any [**Canada Education Savings Grant**](http://www.canlearn.ca/eng/savings/cesg.shtml) money. * Note: If a sibling has grant room available, you may be able to use it for their education.  * Return money from a [**Canada Learning Bond**](https://www.canada.ca/en/employment-social-development/services/learning-bond.html) to the Government of Canada. * Note: You cannot transfer it to another child. “The important thing is to do your research and understand the rules. There’s a lack of knowledge out there and a lot of misinformation,” says Holman. “If you make the full contributions and get a decent rate of return, you could have $50,000.” His advice? “Take the time to learn about how RESPs work. Or, [**find someone who does**](https://www.sunlife.ca/en/find-an-advisor/).” [https://www.sunlife.ca/en/investments/resp/what-happens-if-your-child-doesnt-go-to-university/](https://www.sunlife.ca/en/investments/resp/what-happens-if-your-child-doesnt-go-to-university/)

greyoldguy58

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m04it3k/

t3_1h4z5nc

t1_m04ejfj

m04ixvp

Makes sense. I understand why it is not a very attractive product now.

thedigitalmonkey

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04ixvp/

t3_1h5767e

t1_m0488nj

m04k0bs

I am not clear. 5 years net profit for his 25% mean company is valued at 20 year profit. 5 years net profit for the company means his portion is 25%*5=1.25x net profit. The former looks overpriced. The latter is reasonable.

No_Sea_8721

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04k0bs/

t3_1h5a9ot

t3_1h5a9ot

m04ks3x

Constellation Software. Market cap=CAD 100B. Surprised you haven’t heard of it.

Commercial_Pain2290

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04ks3x/

t3_1h5767e

t1_m03spqs

m04l9pj

That stock has been doing well for much longer than 2024. Five year return is 250%.

Commercial_Pain2290

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04l9pj/

t3_1h5767e

t1_m04ikcc

m04lhsa

So lets say profit is $200k a year he is asking for $250k

oppositeset7

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04lhsa/

t3_1h5a9ot

t1_m04k0bs

m04lqf4

I own a lot (to me) of TEC.TO and it's up 44% in the past 12 months. There's also TUED.TO that covers a lot of tech but also includes some very nice consumer stocks like Costco. That's up 45% in the past 12 months.

Alph1

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04lqf4/

t3_1h5767e

t1_m04dibr

m04lul8

These 2 stocks are about 50% of XIT eft.

Perpetual-Beginner

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04lul8/

t3_1h5767e

t1_m0421cb

m04n7uj

It looks reasonable to me. That means 5x profit for the whole business. At this valuation, your return on investment is around 20% which is pretty good. However note that I am making a general comment without looking at exact comps and precedent transactions. But I can at least conclude that he is not trying to screw you.

No_Sea_8721

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04n7uj/

t3_1h5a9ot

t1_m04lhsa

m04ntia

Not unreasonable but I would stretch the payout over 5 years at least. If something happened to the business in year 2 after the partner left you'd be in a world of hurt. You're not seeing the profit for 5 years,, so neither should he.

Alph1

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04ntia/

t3_1h5a9ot

t1_m04lhsa

m04pas1

Yes for sure. My only concern is that in restaurant market generally the margins go lower every year so it will more be like 6-7 years but yes i get your point

oppositeset7

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m04pas1/

t3_1h5a9ot

t1_m04n7uj

m04r4z5

Okay two companies Also at 100 billion it wouldn’t even break top 50 if it was in the US And that’s the best we have?

cooliozza

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04r4z5/

t3_1h5767e

t1_m04ks3x

m04rvly

So it's basically taxed like RRSP withdrawals. I mean, that's fair.

_name_of_the_user_

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m04rvly/

t3_1h4z5nc

t1_m04it3k

m04t06t

There is a comment below that I really like but wanted to respond similarly. If the performance has been good, and you’re a self-proclaimed novice, you might want to look beyond just the fees before bailing on your broker and investment. For sure minimizing fees is great, but you’re talking about some pretty serious money, and you may want to test out self-directed investing before going in guns blazing with your whole retirement account. For example, if VFV tanks 40% what would you do? Fees suck, but brokers do also help protect you from yourself!

Whudupbg

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m04t06t/

t3_1h573s7

t3_1h573s7

m04t3k1

I am told better to do one thing less volatile lol

Mommie62

/r/CanadianInvestor/comments/1h4d765/thinking_of_switching_from_bmo_to_wealthsimple/m04t3k1/

t3_1h4d765

t1_m047ac6

m04v5l2

Literally the day I sold the stock started to climb lol

Captobvious75

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04v5l2/

t3_1h5c738

t3_1h5c738

m04vk0n

Let me put it back to you; why do you think the system issues will impact their future earnings?

I_Ron_Butterfly

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04vk0n/

t3_1h5c738

t3_1h5c738

m04vtd9

Personal banking is only a portion of a banks revenue, not the majority of their business model.

EdmontonBest

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04vtd9/

t3_1h5c738

t3_1h5c738

m04wnqk

Bro can you DM me when you are about to sell something.

BitElonTate

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04wnqk/

t3_1h5c738

t1_m04v5l2

m04ws6q

Lol

Curious__mind__

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04ws6q/

t3_1h5c738

t1_m04wnqk

m04x4th

The system outage was a nuisance for customers, but the impact on earnings was probably negligible. These stocks are considered by many as yield-plays, so as rates are expected to continue to drop, investors will bid up the prices in search of stable income.

zinc_your_sniffer

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04x4th/

t3_1h5c738

t3_1h5c738

m04xacp

Thank you for your sacrifice

Bersimis

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04xacp/

t3_1h5c738

t1_m04v5l2

m04xbdx

It doesn't even have to affect their future earnings since the stock price rally has been primarily from multiple expansion and not earnings growth. BNS valuation now at historical highs despite earnings being barely above a decade ago. Because of the current valuation, earnings can improve and you can still underperform in BNS

Dangerous_Position79

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04xbdx/

t3_1h5c738

t1_m04vk0n

m04xhyb

Something like MAGS is probably coming because there are a lot of low information investors who want exposure. It’s the same reason ZEB exists. Like ZEB, it will come at an unnecessarily high MER (probably close to 1% or more), but you can already buy CDRs for all of these companies with no MER. The “Magnificent Seven” already have significant weightings in VFV (31.6%) and QQC (43.2%). By going with TEC (56.8%) you’re slightly more exposed than with QQC but mostly due to higher weightings to the companies with the highest relative valuations. NVDA, AAPL, and MSFT are more than 1/3 of the TEC ETF. Since there are only 7 companies you should just buy the CDRs to keep costs low, or buy QQC for relatively low-cost exposure.

Signal-Lie-6785

/r/CanadianInvestor/comments/1h5767e/why_isnt_there_an_etf_like_mags_on_tsx/m04xhyb/

t3_1h5767e

t3_1h5767e

m04xmpp

Christmas

StraightEstate

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04xmpp/

t3_1h5c738

t3_1h5c738

m04xovx

Bro the big 5 banks have technical issues every so often on their systems, Ive worked there before. Its not going to influence their stock price. People have limited choices of where to move money to in Canada and they all suffer the same issues on the technical side. Sometimes even the branches or backend support systems are down for 2+ days and going into a branch you can only deposit/wdl outside of complex tasks for example. It’s nothing out of the ordinary. The only thing that drives stock price is their net earnings and revenue growth, which comes from Mortgage, insurance, and investments. These are mostly handled by advisors or backend systems that update once the technical issues are resolved and holds almost no monetary impact to the customer that would in return make the bank lose alot of money.

jennysonson

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04xovx/

t3_1h5c738

t3_1h5c738

m04xxmv

It will if customers leave. However, most people probably too lazy to leave.

Commercial_Pain2290

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04xxmv/

t3_1h5c738

t1_m04vk0n

m04y0fr

A very important portion.

Commercial_Pain2290

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04y0fr/

t3_1h5c738

t1_m04vtd9

m04y7e9

A few months back I had a meeting with an advisor at Scotia. They didn’t understand how an interest rate was calculated. They were under the impression that their 2.5% interest account (3months) was calculated based on the timeframe of 3months… sooo actually it was 10% interest provided you relocked in every 3 months for a year… They also proceeded to sign me up for 2 credit cards without my knowledge. BULLISH

TendorPendor

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04y7e9/

t3_1h5c738

t3_1h5c738

m04yd1c

~~Many of the banks have at least half of their revenues stemming from residential mortgages~~ Edit: This was mistaken

Spikemountain

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04yd1c/

t3_1h5c738

t1_m04vtd9

m04z71h

You first.

ReindeerLegal2400

/r/CanadianInvestor/comments/1h4sgfw/daily_discussion_thread_for_december_02_2024/m04z71h/

t3_1h4sgfw

t1_m03t2mc

m04z8jc

Not looking forward to leaving got an epic 2.28% mortgage for 4 years in 2022

Still-WFPB

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04z8jc/

t3_1h5c738

t1_m04xxmv

m04zomr

When in doubt zoom out … I. A year from now it will be all time high. Look at monthly charts, valleys to peaks take 2 years

Nazereth_99

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m04zomr/

t3_1h5c738

t3_1h5c738

m0505h9

> Its yield is 5.3% versus 5.15% with TD.   I don’t think this is arguing the point you are trying to make here. Yield is inversely correlated to stock price. BNS yield was even higher a month ago. 

DDRaptors

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m0505h9/

t3_1h5c738

t3_1h5c738

m050nq7

I did this too and am happy. Just put most into XEQT with a small amount in bond funds and set to DRIP. WIll rebalance 2 to 3 times a year.

SaltyOnes5

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m050nq7/

t3_1h573s7

t1_m03vs1b

m050qvw

The interest rate calculations failure is believable but signing you up for 2credit cards “without” your knowledge sounds fake. If you met with an advisor directly they have to go through multiple documents and system notifications including your signature to approve it. Also opening two cards at once would prompt HR or credit department to reach out to the employee, they have been scrutinizing these actions on account and card openings ever since this issue came up on the news. Now majority (not all)of employees need their reporting manager’s approval before activating cards. AND IF you truely truely think what youre saying is true then you should immediately report to customers care or their reporting manager at the branch as this is considered a violation of multiple customer protection acts and is an immediate fireable offense if found to be true.

jennysonson

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m050qvw/

t3_1h5c738

t1_m04y7e9

m051nf8

I do want to add to my point, I know Reddit is an echo chamber but this for most people is 10x worse than the Roger’s blackout. Everyone is saying how they’re leaving the bank. Everyone on scotiabank subreddits are really angry, and rightfully so. But for real even as we speak, mortgages and credit cards don’t display balance, staff isn’t doing crisis management well at all. I feel like a dip is coming especially considering their international presence is in central/south America. With political uncertainty over tariffs we have no idea how Scotia will fare during this event.

OkJuggernaut7127

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m051nf8/

t3_1h5c738

t3_1h5c738

m051qrk

Questrade + Passiv app is my recommendation.

jgcpalmer

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m051qrk/

t3_1h4z5nc

t3_1h4z5nc

m051ylw

Not really as any withdrawal from a RRSP is classed as Income so you take out $20,000 and it all gets added to your income for the year. A lot more information at this link may help [https://www.embark.ca/learning-centre/what-happens-to-an-resp-if-its-not-used](https://www.embark.ca/learning-centre/what-happens-to-an-resp-if-its-not-used)

greyoldguy58

/r/CanadianInvestor/comments/1h4z5nc/self_directed_resp_for_the_kids/m051ylw/

t3_1h4z5nc

t1_m04rvly

m052lah

Right. If bad customer experience caused customers to leave Canadian banks, the Big 5 would all be dead and buried. The market knows this means nothing. Aside from that, who can really leave? Depositors are the only non-sticky customers affected by the issue. Depositors are important, sure, but they don’t really drive earnings.

I_Ron_Butterfly

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m052lah/

t3_1h5c738

t1_m04xxmv

m052uq4

Look at Fidelity FEQT. You'll still have a bit of active management from Fidelity peeps and it will outperform the other "EQTs"

MortgageMarvel

/r/CanadianInvestor/comments/1h573s7/looking_to_manage_my_own_lira/m052uq4/

t3_1h573s7

t1_m04ahfb

m052xb1

5-10 years ago td/bns stock prices were always near in price. Funny enough td took off and now here we are again. Near in price

Aquachairman

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m052xb1/

t3_1h5c738

t3_1h5c738

m052xg9

New CEO is kicking ass.

Zan-Tabak

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m052xg9/

t3_1h5c738

t3_1h5c738

m054x6f

Nobody gonna take the hassle or "risk" of moving 6 figures for a few days of down time.  A small fee for missed payments is nothing for the wealthy

Fatesadvent

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m054x6f/

t3_1h5c738

t1_m04xxmv

m055w7v

“Many”. There are only 5 major banks. If you knew this statistic to actually be true, you would be able to give a specific number instead of just being vague.

Dose_of_Reality

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m055w7v/

t3_1h5c738

t1_m04yd1c

m056aqo

The whole market is broadly up. It has nothing to do with anything more than Christmas RRSP buyers rich with cash.

EuphoricGrowth4338

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m056aqo/

t3_1h5c738

t3_1h5c738

m056ctp

Edit: This was mistaken I said many because I can't be arsed to open up 5 bank's financial statements and pore through them to remind myself which ones just for the sake of a Reddit comment. I just know that I saw recently that for sure some of them do

Spikemountain

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m056ctp/

t3_1h5c738

t1_m055w7v

m056f1n

No you can't get 10 percent interest by owning 4 consecutive 3 month guaranteed deposits. It's been decades since that kind of rate was available.

tangerineSoapbox

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m056f1n/

t3_1h5c738

t1_m04y7e9

m056vjg

The real risk to the stock price is if they manage to F things up to the point the regulators get heavily involved. And then probably not a huge down side.

NWTknight

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m056vjg/

t3_1h5c738

t1_m051nf8

m057vej

Scotia Banks little fiasco is nothing compared to Crowd Strike. Crowd Strike is back to the price before s””” hit the fan.

Maleficent-Potato-87

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m057vej/

t3_1h5c738

t3_1h5c738

m058f8v

5 years net profit for 25% 😂 if you need help realizing that price is outrageous, you probably should hire a professional at this point.

Significant_Wealth74

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m058f8v/

t3_1h5a9ot

t3_1h5a9ot

m058faj

"Everyone is saying they're leaving the Bank". Scotiabank has over 25 million customers. How many on that subreddit? It is a small and vocal group who make up a tiny percentage of actual customers. The number of those complaining that will actually migrate accounts is even smaller so unlikely to have a substantial impact on share price or performance.

Kanadianmaple

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m058faj/

t3_1h5c738

t1_m051nf8

m058fxt

I keep hearing stories of people moving in the last week though. Also, the whole BNS story is about to go live on CBC soon as a documentary. Makes me wonder if investors will pull out. I'm actually very close to selling all of my BNS and getting out. At this rate I rather throw that funding I get back on the S&P.

iamhst

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m058fxt/

t3_1h5c738

t3_1h5c738

m058h8k

Just checked bmos last Financials, 2 bil of the 8 bil revenue came from the entirety of there Canadian personal and business banking, so already 25% of revenue. So all the branch network and business banking, lending investing, deposits, plus mortgages in the 25%. Residential mtgs under 10% of revenue Makeup better stats next time, takes 2 minutes to see this claim is hot garbage, this information is all public

mm_ns

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m058h8k/

t3_1h5c738

t1_m04yd1c

m058o8j

I'm hearing posts about people leaving and a documentary on the news is going to come out soon. I do think earnings maybe not for this month, but the next quarter will show they did lose more customers than they expected. THEN we will see a bit of a price drop when the earnings don't look as good. One reason I am bailing out of BNS.

None

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m058o8j/

t3_1h5c738

t1_m04xovx

m058pz5

You’ve said everything I needed to hear. I’d be amazed if residential mortgages even made up 30% of a big bank’s business…measured either by revenue generation or by book value. Having that much exposure in one business line would be highly unlikely from a risk management perspective. It’s also not going to be their highest margin business either. Banks have incredibly diverse business segments (not including Retail banking mortgages): 1.) Capital Markets 2.) Wealth Management/Private Banking 3.) Canadian Small Business Banking 4.) Corporate Lending 5.) Commercial Mortgages 6.) Construction/Development Loans 7.) international banking I’m sure there’s even more I haven’t named. All these areas drive revenue generation. There’s no *need* for a big bank to be so heavily allocated into retail residential mortgages. It doesn’t make sense for business development. But, you know, you can’t be arsed to back it up.

Dose_of_Reality

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m058pz5/

t3_1h5c738

t1_m056ctp

m058ydn

All good! You should always set a price you are willing to be ok selling at and then move on. The main thing is you made some profit and that's good enough. I always set a limit where I am good with selling and it's enough of a gain/profit for me to be happy regardless if it jumps even more. Otherwise you will never ever sell haha.

iamhst

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m058ydn/

t3_1h5c738

t1_m04v5l2

m05935o

For now. But if we find out they lost 10% of their customer base to other banks. And, they did not gain as much because of the news. Then the next earnings call will show for that.

iamhst

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05935o/

t3_1h5c738

t1_m04x4th

m059b55

I don't think it will hit ATH anytime soon. 2025 is a time when banks will be taking a beating. All the mortgage renewals are coming up. Interest rates may not come down. Let's not forget what Trumps tariffs are going to do to Canada's economy too.

iamhst

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m059b55/

t3_1h5c738

t1_m04zomr

m059pkx

But it's sounding like things are bad now. People have made payments and their systems show nothing was paid. One guy was laughing because his mortgage has disappeared from his account. He thinks he now owns a home for free haha! Scotia has not gone out public yet on the impact because they know it's quite bad. But with the earnings call coming up they do want panic.

iamhst

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m059pkx/

t3_1h5c738

t1_m056vjg

m059x6d

Ya but crowdstrike was a blip and a failed process. Their products is actually still top of the line. Scotia on the other hand has legacy systems and poor resources working on them to maintain them. People cannot make payments, cannot withdraw funds or pay other bills.... not a good sight right now.

iamhst

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m059x6d/

t3_1h5c738

t1_m057vej

m05aqrd

We will see, check it next year. Maybe you will be right … maybe I will. “Charts are like tea leaves … the rest is just noise.”

Nazereth_99

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05aqrd/

t3_1h5c738

t1_m059b55

m05b2fw

No 25% of 5 years profit

oppositeset7

/r/CanadianInvestor/comments/1h5a9ot/help_me_evaluate_my_business/m05b2fw/

t3_1h5a9ot

t1_m058f8v

m05bm26

My thought was wth caused it to plunge almost 6% today.

SirBobPeel

/r/CanadianInvestor/comments/1h4sgfw/daily_discussion_thread_for_december_02_2024/m05bm26/

t3_1h4sgfw

t1_m01umdf

m05cncf

It certainly would be a big issue if they actually lost 10%, but it seems unclear how many people will actually switch banks. 10% seems very high to me, as far as possibilities go. Those with mortgages, lines of credit, etc. can't switch very easily, or at least will find it to be a process. The longer people are with banks, the more ties they tend to develop, isn't that usually the case?

AngrySoup

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05cncf/

t3_1h5c738

t1_m05935o

m05dd7f

It's possible I misunderstood or misinterpreted a slide in the presentation I had seen. But now that you wrote all that, I did actually go to look it up: 40% of CIBC's revenue comes from their personal and small business segment. I didn't look for the details and of course that includes LoCs, credit cards, and fees as well, but I wouldn't be surprised if a fairly large chunk of it were residential mortgages. But yes, evidently not 50% in the end

Spikemountain

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05dd7f/

t3_1h5c738

t1_m058pz5

m05deft

The problem is you are spreading misinformation. You can't back out of this now that you made the statement. What you should have said is you're assuming/guessing that many of the banks have more than half their revenues come from mortgages. That way when we point out how utterly false that is we don't need to have this conversation.

IMWTK1

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05deft/

t3_1h5c738

t1_m056ctp

m05dexi

In not any one of the big 5 banks does personal/residential banking make up a significant portion of total revenues. *That certainly doesn’t mean that these customers are unimportant to us - in fact: our corporate customers might come from personal/wealth management referrals, but their revenues and net RORC numbers are minimal overall. Commercial banking, corporate banking and capital markets make exponentially more. The same cannot be said for credit unions, treasury banks, etc. Source: Commercial banker at a Big 5.

SKOOBEY1

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05dexi/

t3_1h5c738

t1_m056ctp

m05duud

Edited to remove the misinformation

Spikemountain

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05duud/

t3_1h5c738

t1_m05deft

m05dywt

Personal/retail banking is such a minimal factor of revenues that a few thousand people leaving with their net worth wouldn’t register a noticeable drop in revenues. If system errors impacted commercial/corporate clients: that would be different.

SKOOBEY1

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05dywt/

t3_1h5c738

t1_m058o8j

m05e0ge

Last time I looked Scotia broke out the segments in three 1. Capital markets 2. Domestic banking 3. International banking. I'm pretty sure it's similar at the other big 4. I also believe TD likes to sell off their mortgage to eliminate the risk.

IMWTK1

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05e0ge/

t3_1h5c738

t1_m058pz5

m05f3cu

Thanks for looking into it. I appreciate it and appreciate you following up. Have a good night!

Dose_of_Reality

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05f3cu/

t3_1h5c738

t1_m05dd7f

m05feve

Scotia is revamping all their portals and apps. They've been running the two in parallel to work out the kinks. They learned their lesson from the screw up when they retired flightdesk and replaced it with this absolute inferior trade pro. I lost access multiple times today where I couldn't make a trade. They introduced a few minute auto logout on their web portal which forces you to relogin everytime you need something, and every time you login it kills the trading desk app which didn't have the time out, until you have to login for something else. It's insane and an absolute pita. I would leave if I want married to them. I'm working on it though. Hopefully in a few years I'll be in a position to leave. But I'm not a usual user and I'm sure a casual user may not care.

IMWTK1

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05feve/

t3_1h5c738

t1_m04xovx

m05g48w

I’ve been with scotia and their iTRADE platform for years. I’ve had zero issues other than the odd “down for maintenance” updates which is typical of any online service.

Stank-Pappy

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05g48w/

t3_1h5c738

t3_1h5c738

m05hoam

Thanks for teaching me all that - I'm sure I misremembered whatever had led me to believe what I had originally wrote because I was way off. Now that I've looked it up though - >Commercial banking, corporate banking and capital markets make exponentially more. In terms of revenue this part is not true. I'm sure the banks each have different splits, but at least at CIBC, their largest segment of revenue - larger than commercial banking, corporate banking, or capital markets - is their personal and small business segment coming in at 40% of their total revenue. Capital markets by comparison is only 24%. I suspect that a fair amount of the 40% are mortgages, but I don't know how much. Of course there's also LOCs and credit cards in that segment. Side note though - hope you don't mind me asking - how do you like commercial banking? Can you tell me anything about what its like?

Spikemountain

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05hoam/

t3_1h5c738

t1_m05dexi

m05jc2i

I would not count Reddit posts as an accurate survey of how many customers are leaving Scotia and of those how many were going to leave anyways.

GoofMonkeyBanana

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05jc2i/

t3_1h5c738

t1_m058o8j

m05jprw

And the ones who can switch easily and the type of people I have seen complaining about issues still don’t sound like big revenue generating individuals.

GoofMonkeyBanana

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05jprw/

t3_1h5c738

t1_m05cncf

m05ks0k

Because i chose to do the mortgage with them

pharoah_petroc

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05ks0k/

t3_1h5c738

t3_1h5c738

m05l7zc

Unfortunately true. Context is I signed up for a credit card and a loc so I did go through all the paperwork you detailed but only for the one specific card. They signed me up for 2 more without my knowledge or signature. I did report what happened but haven’t heard anything about it since.

TendorPendor

/r/CanadianInvestor/comments/1h5c738/scotiabank_has_been_having_an_epic_meltdown/m05l7zc/

t3_1h5c738

t1_m050qvw

m05la3m

All banks and brokerages except IBKR do that. It's usually baked into the conversion rate and not displayed as an actual fee.

Mobile-Bar7732

/r/CanadianInvestor/comments/1h5163q/wealthsimple_usd_account_vs_conversion_fee/m05la3m/

t3_1h5163q

t1_m03l8i4