RE:This Mornings Action Shows Power Of the AlgorithmNo the algorhythms are not the problem the potential to be nailed with a 2 billion fine is. My Dad had holdings here got spooked and dumped them. He was saying initially there was a 40 million dollar fine but news broke and things look far more damaging in regards to the Chinese drug trafiking proceeds being laundered through TD. Apparently, there are higher level people who are being implicated for at best nit following eternal protocols and worst taking bribes. I called this a bloody witch hunt relatively speaking prior to now reading that people were on the take in taking bribes. Before reading and being appalled i was saying i doubt anyone was directly involved to that capacity and short of doing a criminal record search which will clearly break peoples civil rights how on Earth will you keep people involved in illegal activities out. I am sure tons of banks around the world forget Cabadian Banks have someone who is conducting nefarious affairs. When i came to read what had been stated i was appalled and rightly those people who had to get axed needed to go 12 in total some of who will also most likely face criminal charges.
I have investments with TD as does my Brother but here is the thing i saud to my Dad that where the hits will likely be reflected is on the TD stock not in my best super non qualified opinion anywhere else. I further found out in 2021 TDs net was over 11 billion dollars so ok if lets say it gets hit with 2 billlion that is less than 20 percent of that. While it is not chump change and quite big danages to pay it will push the stock down for some time but i do strongly believe 80s is extremely likely again however as pressed people are looking to civily sue TD as well. Stocks are nit debt instruments and generally from what i know majority of people are unsuccessful in suing companies.
Who knows where the price will be near term but if one is collecting the divie and otherwise looking longer term this is less problematic not to mention allows people to get more in mid 70s who knows where else and simply great buy and hold. If one isnt buying and if not limited by age and need of faster returns better to hold and wait things out. My penny stocks are way more risky than this lol.
TD will just need to go through the process and shareholders with them. So far the huge drag is this temporary stain. I like TD for longer term considerations although there will continue to be short term pain to be worked through with some sort of inevitable fine. Who knows what the end fine total will be though???