Financial 15 Split Corp T.FTN

FTN unit nav to DEC 5 = approx: $16.69

[mouserman]

So the US financials were weaker, and CAD about even today, overall the commons trading at a very good valuation here as the premium is only  21 cents today. About 3%

[Golferman]

Surprising FTN is trading at such a low premium.... however this will change as we get closer to ex-day. 

[Donwaan]

Gains hastily achieved in just five weeks may have taken stocks near term to what will be seen as overbought levels and are flashing a warning signal for the market according to Oppenheimer Asset Management. (could this be why the premium to NAV remains so low) https://www.marketwatch.com/story/did-stock-market-rally-too-far-too-fast-surge-may-require-some-pay-back-in-early-2024-analyst-says

[Golferman]

Wow all banks up large today...... premium shrinking to almost zero.  Golferman 

[mouserman]

Real time UNIT NAV for FTN would now be about $16.80, the premium very small with the last trade @ $6.92. FTN and LCS likely the  2 best buys for value ( of those paying ), as far as premium or discount goes. LFE is popping up today, and had a huge discount  yesterday as it nears the 15$ threshhold.

[Golferman]

Added more this morning...... Share price to premium good to pass up. Golferman 

[Golferman]

Added more this morning...... Share price to premium to good to pass up!!!! Golferman 

[NoShoesNoShirt]

US big banks are up 10x as much as the cdn lifecos. In the nav battle with LBS this is going good for FTN.  Go team FTN. 

[Donwaan]

Gains hastily achieved in just five weeks may have taken stocks near term to what will be seen as overbought levels. Or maybe not?

[mouserman]

Well the bank stocks in CANADA are moving lower as the quick jump in Unemployment rate with other data  is signalling recession. The Bank of Canada on Wednesday left its policy interest rate unchanged at 5%, saying there is evidence higher rates are working to slow price increases across the economy. The central bank said in a statement that officials remain concerned about upside risks

[NoShoesNoShirt]

Diversified Banks     WFC Wells Fargo & Co 44.895 USD +0.405 (0.91%) 44.89(9) 44.90(34) 8.49M Finance     JPM JPMorgan Chase & Co 157.265 USD

[mouserman]

You do know that FTN  holdings of CAD financials is approx; 40%  of the NAV at the last full update and US banks were  only 27%...... Look at a one chart of LCS, LBS and FTN, tell me what you see. Cherry picking dates is a short term focus. Moody's ,FITCH , etc have all downgraded the US govt debt and the US banking system. Not so with Canada. I suspect we will start to see the

[mouserman]

I meant the chart from the start of 2023 to now...

[NoShoesNoShirt]

Yes, banks went bust in the U.S. and big banks bought the bones cheap....so I hope a few more little banks go under.  It helps JPM, bac and C.

[mouserman]

No the FED bailed out the failing banks with a new program .. Bank Term Funding Program In response to the bank failures of March, the government took extraordinary measures to mitigate fallout across the banking sector.[18] On March 12, Federal Reserve created the Bank Term Funding Program (BTFP), an emergency lending program providing loans of up to one year in length to banks, 

[Inglewood]

Shockingly low... I can see this whipping up 50-75+ cents in a short time (ie., 1 day) if this continues..