Post by
NobleHouse on Mar 21, 2024 4:19pm
What a nice day
Finally , some respect for FTN and their holdings and we don't even have an interest rate cut yet , then look out as %8.50 and $9.00 or more are in the cards.Thats when investors decide to pile back in including former shareholders who exited completely or redeployed into the Prefs.Some of us had the fortitude to see that our banks are first class and could not be kept down dispite the BOC or our anti business current administration.We had patience , didn't exit in the 7s the 6 s or worse of the worse the panic at $5.75. Instead we added more and collected an over 21% dividend reinvested and that's why those that hung tough are up on their ACB with many more shares.They say patience is a virtue , not that l have ever been accused of that virtue , but in this case l did decide that patience over panic was a virtue. You can always bet on our Banks and the Big guys in the US part of our portfolio dispitethe Wild West show and really poor dividends has produced as well.Now if those American banks matched current CDN bank yields then this ETF would be well over $9.00 and counting.Cheers for the stalwarts who perceived against the former prevalent and wrong sentiment.
Comment by
KozmoT on Mar 25, 2024 12:06pm
Good point, all these current gains don't even take into account an interest rate cut. Yes its expected but I believe value will still surge once its actually announced.
Comment by
StratCap on Mar 25, 2024 1:33pm
An interest rate cut should be a further boost. Agreed. GLTA