Bank of Nova Scotia T.BNS

Down below $67, Market is NOT Warming Up to New CEO

[DeanEdmonton]

There are a lot of polite things being said but behind the scenes there is a lot of selling going on. I think a lot of Institutional holders want to be on the side lines until they can assess the new CEO and that is going to take at least 18 months. Porter did a great job of turning the bank around but it took almost ten years. The share price still does not relect what he built for the future, but if the new CEO takes a dramatically different direction we could see this company stalled for another 5+ years. I had no idea this was coming but got lucky and sold BNS back in April, planning to buy back in once we know the depth of the coming recession world wide, which affects BNS more than the others. I think I will just redeploy that powder elsewhere for the time being.

[BiggyG]

Do not sweat the small stuff Dean. There is always a correction of sorts when the helm changes hands, albeit a bit dramatic this time, however we are in crazy times and the entire world markets are struggling. Just go back in time and look at the stock and Andex charts you can see it. Now once everyone cleans their books stops the weeping and dithering and reinvests we will see the climb begin

[newcoin]

Happy to buy in today. Thrilled at these prices. Actually, can't believe my good fortune. Retired and looking for dividends. Can't do any better anywhere than a Canadian Bank paying a dividend over 6%. Fantastic!

[cautiousguy]

Better than Braxia?

[RayDonovan78]

Hey Dean, I am not worried. Picked a few up yesterday and will do the same today. I feel its an easy money maker over the next 12-24 months and that 6% divy is jjuicy. This isnt Laurentian....Lol

[DeanEdmonton]

I hear you Ray but I don't like uncertainty. I can buy TD and Royal and not have to worry about CEO succession, plus both have much better SP track records over the past 20 years. A couple of extra percent on the dividend is not enough for me. Add to that the poop parade that is Central America and that is the big reason I sold BNS back in the spring anyhow. Don't see that getting better

[RayDonovan78]

Yes, Having a CEO with little banking experience didn't make much sense to me. I heard that he has dealt with South America in his past, maybe that's why he got the job ?? to clean things up ???  I'm thinking if he doesn't perform the board will toss his sooner than later. Btw, CIBC is my second biggest holding, got in at the Covid lows in the neighborhood of a 7.5% divy

[RusticHit]

wow trading like Weed stock down every day where this  is going  50,ss

[Quintessential1]

If you are dripping the div like the Fidster you're going to make out well this quarter. Like the previous post says.  Banks are trading at a bargain even for banks They should be rocking out the NCIB. In case anyone forgot they have one. GLTA.