RE:RE:Price action BNS It's irrelevant to me I own both of them! But I firmly believe there is a greater runway of price appreciation with BNS than CIBC! CIBC in my view is at or approaching fair value! I do not see this to be the case with BNS which is in the early stages of a strategic shift in direction.
No guarantees but I like the new strategic direction of BNS and despite prevalent views, they have many profitable operations in the Pacific Rim. The questionable area is Colombia and Colpatria has been tasked with doing more with less, or the business will be spun off!
Right now CIBC is doing great. we have made a lot of money because they were under priced. Great safe primarily stay at home Canadian bank, although this means they are very leveraged to the Canadian economy with limited diversification outside Canada! Scotiabank has broad-based international diversification including still some profitable businesses in the Caribbean, Pacific Rim, Canada, United States, Mexico!