Tension is Building...
I just have that "gut" feeling that the buying is drying up when it comes to the Canadian Financials and we will soon see a significant move downward in terms of share prices.
If Manulife Financial (MFC) was not an eye opener, I do not know what it will take!
Yes....they are different....but very much the same!
They are in big trouble!
Reality will set in soon and going forward they are going to have a difficult time growing or maintaining what they have now in terms of profit and business.
An increase in loan loss provisions which may or may not happen in the next round of Financial Reports should give us a good idea of what they are seeing.
To me, their past lending practices and tactics have been very loose and not regulated to the upper test limits...this will catch up very soon. If we do not see clear signs of it in the next reporting period we will most definitely see it in the upcoming couple of quarters...no doubt in my mind!
Digger144
P.S. roberto146 & agoldbloom....we are on the same page.