We sold TD after holding it for 30 years: Cardinal Capital Management

Рет қаралды 64,784

2 ай бұрын

Evan Mancer, president and chief investment officer of Cardinal Capital Management, joins BNN Bloomberg to share his outlook on the market as well as his thoughts on the TD Bank situation.
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Пікірлер: 111

@ChloeCarter-kd7gz Ай бұрын

The distress for banks was a farce; what we have experienced in the past 2 years is a result of a system that has worked incredibly well. The Fed just had to tighten credit to cool the economy.

@AshleyKeith-vw7ws Ай бұрын

What about the Fed lending program for banks that was said to ease financial tensions after the domino effect from Signature and Silicon Valley bank?

@ChloeCarter-kd7gz Ай бұрын

@@AshleyKeith-vw7ws Yeah, that sufficed, but what really helped the economy was rising immigration that helped even out the mismatch between open jobs and people looking for work.

@JessicaKeith-uj1jq Ай бұрын

I agree. Rising productivity is manna for central banks, allowing faster growth without inflation because each hour of work yields more goods and services at the same cost.

@HRMColoniallifeinsurance Ай бұрын

I’m indifferent. All I really do care about is what assets and securities will drive the Santa Rally? It is upon us, folks. I have a $100k portfolio, and I have a friend who has grown theirs to over 30% with the recent rallies. He is up 4% this month alone!

@ChloeCarter-kd7gz Ай бұрын

I might sell to the tune, but not without the approval of my broker as usual since 2022. With eyes and ears on Wall Street, I have raked in 140% on a managed portfolio currently worth $315k run under a hedge fund by Desiree Ruth Hoffman.

@ShamileII Ай бұрын

US investor here still adding to my TD position in this rare weakness .

@Iliinois18 Ай бұрын

With all the fentanyl deaths going on great job...

@billcarruth8122 Ай бұрын

I think adding is a good move. Every large institution is going to have occasional problems. This isn't something TD can't solve. It's a good opportunity for them to seal up the cracks, and like you said for us to buy some on the perceived weakness.

@kaizokud42 Ай бұрын

TD is also the leading Canada bank. It is not going away

@Iliinois18 Ай бұрын

Ya who cares about ongoing criminal behavior or freezing people accounts....

@Petefenlon Ай бұрын

TD bots going strong on this one 😂 Check out the user's comments. All TD related. Money laundering and bots spamming. Great signs that TD is going strong...

@Xalta_Sailor Ай бұрын

Was a TD investor and client for decades. Moved out of the country and had to start dealing with TD ancient internal systems for administration- so sold all my shares and closed all my accounts. It is a big world out there and you don’t need to be part of this oligopoly.

@hockeyzythebest Ай бұрын

Which bank do you use instead?

@Xalta_Sailor Ай бұрын

@@hockeyzythebest still haven’t found a good one. Mainly UBS out of Switzerland now.

@svenhodaka9145 Ай бұрын

Thanks, I just bought your shares. “Be greedy when others are fearful” a famous investor once said 😉. 📈

@beri232 Ай бұрын

My favourite duo of “famous investors”! 👍🏼👍🏼

@beri232 Ай бұрын

….. I bought some too! Lol

@Soohoo-rv3sn Ай бұрын

It's barely down tho, way too early to be greedy

@beri232 Ай бұрын

@@Soohoo-rv3sn I agree.

@svenhodaka9145 Ай бұрын

@@Soohoo-rv3sn True, TD share price is ripe for the accumulate phase. “In the short term the market is a voting machine, in the long term it’s a weighing machine”, said a famous investor 🤔.

@hchalz Ай бұрын

I wouldn't worry too much. The entire Canada survives on money laundering. Why do you think housing is so expensive in Canada? If TD is in real trouble, Freeland will quickly introduce a TD tax and support TD

@Tomyum19 Ай бұрын

That’s really funny

@Matt-YT Ай бұрын

5+% of the Canadian economy is money laundering. Canadian banks must be involved

@babelfishdude Ай бұрын

Well.. It is a growth industry. US Banks do guns, legally of course.

@jitheshl7037 Ай бұрын

True . As far as Canada business doesn't come under scrutiny TD is safe. Their CEO said we failed in identifying this. You have been failing for years in Canada and don't tell you are not aware of how this. The email is just a publicity stunt.

@parkerbohnn Ай бұрын

@@jitheshl7037 Conrad Black was busted by the Americans. The same thing will happen to the Canadian banks. The Americans will bust all of them just like Conrad Black was busted.

@_starhelix Ай бұрын

I don’t get it, so they sold the entire position over a few employees committing foul play, and also selling it because of weakness in US regulator confidence over the Horizon deal? Seems they know more than they’re letting on or it’s the top blooper of his career.

@rochester3 Ай бұрын

Td makes 14 billion in a quarter what’s 2 billion fine?

@oldschoolben438 Ай бұрын

Yup

@magen-b7n 4 күн бұрын

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.,,

@mattsmith5856 Ай бұрын

Why’s he on BNN talking about this. What’s his motivation?

@oldschoolben438 Ай бұрын

I have the same question, and his explanation is not very convincing to me.

@JohnDoe-gg6kc Ай бұрын

He wants to rebuy it 10 dollars cheeper

@TheWaross Ай бұрын

Took a small 1 billion $ short position aim guessing 😂 "GO LOWER"

@ginor8416 Ай бұрын

I hope TD goes lower so I can buy more. News flash, all banks launder fentanyl money

@dirtlump Ай бұрын

Smart move.... I've been quietly rebalancing away from Canadian Banks in general for awhile now..... very simply because the coming Mortgage renewal crisis isn't going to end well.... Full Stop !

@2002S40 Ай бұрын

Good that you think that way, so you could help knock their price down for sales.😅

@chrisskyllas1309 Ай бұрын

Bold move to bet against the house. Most banks will allow to re-amortize back up to 25 or 30 years, there will be defaults for sure but at a manageable level the banks have already setup PCLs for. Unless speculating short term, selling now will likely be a bad move for the long term investor. I believe TD is the rare opportunity for the long term investor.

@davemacdonald1932 Ай бұрын

Sold at an all time low? I think the ML issue is baked in and you just decided to pay for it.

@darleneonischuk4758 Ай бұрын

He’s probably shorting it

@nikmohamed5906 Ай бұрын

05:44 when she asked him "Are you subscribing to the cockroach theory" loll

@josed3265 Ай бұрын

Management change is much needed to turn the page, solve the problem, and move on

@essenceflow Ай бұрын

Will buy TD at 65 if management change.

@WildDisease72 Ай бұрын

TD Bank has Chinese hands in pockets

@Soohoo-rv3sn Ай бұрын

TD is barely down since the money laundering thing... it's too early to be greedy imo

@fishinfrenzy2544 Ай бұрын

It’s lost 10billion in market cap because they may be fined up to 2billion I see that as an opportunity

@oldschoolben438 Ай бұрын

His explanation for unloading a stock they held for 30 years was entirely unconvincing. What does he know?

@parkerbohnn Ай бұрын

The U.S. stock market today is the most overvalued in all of history Einstein. Just look up the P/E ratios and forward P/E ratios. Maybe he knows a lot more than you do.

@oldschoolben438 Ай бұрын

@@parkerbohnn this literally applies to the entire banking sector and all of tech Einstein. This wasn’t his explanation, it was all about the investigation. Why is he selling TD specifically?

@parkerbohnn Ай бұрын

@@oldschoolben438 You don't seem to get the gist of it. You buy when the stock market is undervalued but today the U.S. stock market is the most overvalued in all of history. When the U.S. stock market falls it normally takes down all the worldwide stock market indexes.

@jordynh4633 Ай бұрын

TD is Canadian company@@parkerbohnn

@oldschoolben438 Ай бұрын

@@parkerbohnn then why isn’t he unloading his entire portfolio and instead talking about the investigation against TD? Why isn’t he unloading his other bank holdings?

@Roguerebel297 Ай бұрын

For the algorithm! Let’s drop TD to teach them a lesson like loblaws! For real though I think there’s a case of this in the states as well so TDs troubles are far from over I suspect

@billcarruth8122 Ай бұрын

TD is solid. Every large company is going to have issues from time to time. This isn't something TD can't solve. If the funds they allocated for US expansion do end up being used for buybacks then expect some nice share price rewards.

@rochester3 Ай бұрын

2 billion fine is noting for a company making 14 billion a quarter

@vladnovikov4483 Ай бұрын

Sure, I will be buying on the other side of the deal.

@vladamirkb1 Ай бұрын

TD is the worst bank i ever delt with. I don't wish TD on anyone.

@gmarks1559 8 күн бұрын

TD is rallying bigly, good call 😂😂😂.

@rony9747 Ай бұрын

Lol thanks for your shares 😬

@orpheus3357 Ай бұрын

Leaving me holding your bags smh lol

@compoundingloonies Ай бұрын

Bullish on TD. This guy sounds like he is shorting it lol

@RosnizambinmdkassimRosnizam Ай бұрын

Rosnizam bin mdkassim

@user-to8ri9py2p Ай бұрын

Justin is e Risk

@mrbbqlvr4274 Ай бұрын

Toxic!

@fishinfrenzy2544 Ай бұрын

All banks launder money🤣 it’s a buying opportunity

@jamesduncan915 Ай бұрын

He looks like a guy that just got a pile of BTC

@dougiep2769 Ай бұрын

Td management team needs to be treated like the common criminals they are.. till that happens i woukdnt touch it. Apparently share holders are gonna pay for management crimes

@anatoly8018 Ай бұрын

It's time to buy gentlemen. This is capitulation. These clowns will buy nvda that will go down in the future.

@parkerbohnn Ай бұрын

All the money will flow out of the U.S. stock market and into gold. Always look for alternate investments when something is the most overvalued in all of history. Money will flow somewhere and likely out of stocks and into gold.

@nucleardog6675 Ай бұрын

That is exactly what I thought when he said the capital was re deployed lol.

@andymcmeekin2532 Ай бұрын

These guys want to buy more shares I guess

@kimchan7189 Ай бұрын

This is a stupid decision. I would not have these guys to manage my money. Stay away from these people and stick with td.

@parkerbohnn Ай бұрын

The summer of 1929 looked like the buying opportunity of a lifetime compared to the valuations of U.S. stocks today. People make such stupid comments without even looking up the cold hard facts first.