“Risk weighted assets for the Big 6 banks, and CM and RY in particular are massively understated in our view. CM and RY are 26 and 23 times levered based on gross loan exposure to total Tier 1 capital. Given their substantial...
READ MORE >“I think it's -- the work that's being done in our underwriting team to accurately price for risk. There's a lot of work that's going into the evaluation of business for self...
READ MORE >Heading into earnings season for the Big 6 Canadian banks, we were almost certain that a great deal of the discussion on the analyst conference calls would be centered around loan performance in...
READ MORE >Over the past few weeks, we conducted a survey of more than 250 real estate agents across Canada. Click on the link below to view our presentation which outlines our research on the Canadian housing market at a high level and the critical findings from our...
READ MORE >“As you know, what drives our provisioning for our performing loans really has to do with the changes that we make to scenarios and to our economic outlook. So it really depends, sort of, quarter-to-quarter how our...
READ MORE >“In the case of the IFRS 9 guidance on performing, there's a lot of assumptions that go into what falls into the performing and it could be anything from your assessment of volatility to...
READ MORE >“So the original 10% was related to what we thought or anticipated the B-20 impact would be. So that was on that part of the business. When we take a look at the second half ,we continue to see that there will be origination...
READ MORE >We hope you will consider this report for your weekend reading list. Over the past few weeks we surveyed more than 300 real estate agents in Canada. The attached presentation outlines the feedback we received from those agents...
READ MORE >The gravity of this statement from The Wire’s Omar Little is not lost on us. Time and time again in the two and half years that we have been following the Canadian housing market investors have suggested to...
READ MORE >SELL/SHORT
$230
SELL/SHORT
$55
LONG
$70
SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0