Canadian Banc Corp T.BK

Had this sent today. Buffett warning about banks.

[deisman03]

https://www.msn.com/en-ca/video/webcontent/warren-buffett-a-storm-is-brewing-in-the-banking-industry/vi-J9f6KuqEteKT9w?vid=3_jC2RBAa3Y&provider=yt&ocid=msedgdhp&pc=U531&cvid=fe625fee6e534d02b69acb06c14fcaad&ei=34

[flamingogold]

Old news. This interview is from 16 months ago. Another attempt to tip the scales towards doom and gloom. At that time, inflation was about 5% and rates were no where in sight of dropping. Today US inflation is under 3%, the lowest in 3 years and the FED is about to cut rates in September with odds close to 100%. This is the original from April 12, 2023. https://www.youtube.com/watch?v

[NoShoesNoShirt]

Thank you flamingogold for clarification of the time frame. There are always voices of doom whispering, and they will be right someday. Stay optimistic and patient, but always be ready for those whispers to be right. Things are looking up for Harris to win in a landslide, which is what the world needs to have a peaceful transfer of power. If the complainer loses in a close race he could pout his

[flamingogold]

NoShoes, I concur. Trump is a sore loser. He is looking desperate lately trying to bring down Harris, first in Detroit with a false claim no one showed up for her and just before that blamed the Monday selloff of last week to Harris-Biden economics. Now 9 trading days later, the markets sit higher.

[deisman03]

Nope, not any such thing, on my part.  I have no reason to attempt to tip the scales one way or the other, as I am not in love with this investment vehicle, as some people on this thread are.  I put that out because it was sent to me yesterday as a reminder to be careful when so much hype is being distributed by the talking heads.  Poo Pooing Mr Buffett's strategies is never

[flamingogold]

Respectively, I disagree with your answer. Buttet may be the greatest trader around but you failed to mention the age of the article which is why I rebutted your original post.   Stock news changes daily, with every FED meeting, every CPI#, every PPI# so an interview that is 1.5 years old in this rapidly changing environment needs to be considered.   Also, BK is solely Canadian

[deisman03]

Stock new does change regularly but you should know Buffett telegraghs his punches.  He only recently dumped his BAC stocks. It doesn't matter that the article is 18 months old  And as for Harris being a savior? IMHO, I feel sorry for Americans at this point in their political history as they don't have a capable candidate in either of thier major political parties. 

[flamingogold]

""He only recently dumped his BAC stocks." Be careful with the words you choose... ie.. "dumped"? He sold under 2% of his BAC stock... hardly dumping and it remains his 2nd largest holding behind Apple which he also trimmed. Once again, over dramatizing.

[flamingogold]

And this after BAC had a 54% jump from that interview in April 2023. Nothing wrong with trimming and he recently opened two new positions including Ultra Beauty which confirms his conviction on retail and the strength of the consumer.

[mouserman]

Buffet sold BAC shares nearly every day in JULY from what i read.  Here is a snippet: July 30 (Reuters) - Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab sold more Bank of America (BAC.N), opens new tab shares, boosting sales to more than $3 billion this month, taking profits after a big run-up in the second-largest U.S. bank's stock price

[mouserman]

Dumping is definitely the wrong word, as he sold shares slowly so as not to alarm the market. From what i read in the fillings, he sold some nearly every day in JULY. For all we know it may continue in August...  as they dont file the sales every day, but more like every 2 weeks..and a bunch all at once. One commentator said Buffet would like to get below the level where he has to report the

[deisman03]

He sold enough to make people nervous.  GLTA the good folks here

[flamingogold]

He sold enough to make you nervous

[mouserman]

And by the way BK has 5 US banks, and BAC is one of those.  at last Quadravest report BAC was 4.8%... they are minor holdings , but altogether add up to over  16.6 % of the NAV.. Here is the link: https://www.quadravest.com/_files/ugd/78f11d_971c387bcd324438b634733d5f929d63.pdf

[flamingogold]

Thanks for correcting me on that. Still, 83% CAN is hardly the equity to worry over with Buffet's small trimming of BAC especially after his monster gain of +50% since the interview in question.