PE RatioCanadian banks are cheap (12.5 PE ratio) because they are being shorted by USA banks to keep their prices artificially high. If Bank of America was trading at 12.5 PE it would be worth $5.00 not $15 per share. Some of those teeny tiny TD customers are placing hundreds of 9.99 trades per month. If you think TD bank is worth $40 than other things being equal Bank of America should be trading at $4.00. Things are not equal and that is why American regulators are gelding new bank rules in USA to stop predatory bank practices. But Canada's bank system has already evolved to much higher standards. I am sure a lot of investors have tin ears and know all this and still pump up BAC citi jp morgan an sachs all the same