RE:LBS unit NAV droppingAnother way to look at it is that the lifeco contingent of the LBS holdings report tomorrow...alll 4 of them. If they are anything like IFC which reported Tuesday after the bell, and they are expected to do well, life will look much better by Friday.
The other 6 are banks which report during the last week of the month. They are all surviving nicely on an embarrassing mountain of cash that the OSFI will not let them put to work until the virus has been "put down".
American short traders may find that a bad idea but the aftermath of their management of the banking industry in the early 2000s required Canadian banks to come in to filll in the market supply void left by defaults of American banks.
I will hang on with my +20% dividend yields as LBS missed only a few dividend payment over the last decade where FTN missed paying dividends for several substantial time periods ofver that timeframe. Even 16% is a pretty good dividend yield considering the marginal tax rates on dividend income if it is uninterupted for years at a time.