Life & Banc Split Corp T.LBS

Alternate Symbol(s): T.LBS.PR.A | LFBCF

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for capital appreciation. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.

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Life & Banc Split Corp

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Comment by marcroberton Feb 28, 2020 10:23am

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Post# 30746507

RE:How low will go?

I've been buying LBS from $8 to 6.52 today and will continue to buy if it goes lower, but I doubt the banks and lifecos will plungs that much. What could happen if we approach 5.25, people might sell fearing the lack of yield, but based on a lot of history, if that happens, it won't last long. It we hit 5 or 4s I will be buying hand over fist.

HERE IS THE DATA
ONLY for a couple of weeks in the $4s end 2011 and mid 2012, when oil imploded and loans losses were feared.

Besides that, the all time low was $3 for about a month around FEB 1 2009, CIBC for example was at $43 vs $101 today. There is zero chance in my view that CM will hit 90 let alone 50 any time soon.

banks were trading 60% lower than today, and there is NO financial crisis going on just a garden variety short term shock.

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