Toronto-Dominion Bank T.TD

Barry Schwartz - BNN - DON"T BUY

[Possibleidiot01]

DON'T BUY

Toronto Dominion(TD-T)

18/07/2024

 

Has probably recovered from the $75 range. Multiple interest rate cuts in Canada will be a nice sigh of relief, but doesn't solve the cockroach problem it currently has. No idea how big the fine will be or impacts. Clearly, management didn't have good control over assets, and that should be rectified.

How does it get its mojo back? Not sure. May be stopped from growing in the US. Valuation is, arguably, quite inexpensive. Not his favourite, wouldn't put $$ in. Prefers RY and NA.

Not owned

[flamingogold]

Don't like Schwartz. Banks and the ecnomy will be stimulated with interest rate cuts... period. Looking  at the chart since March '22 when rates began their ascent, TD and most banks began their decline. Rate cuts will move bank stocks back up.

[flamingogold]

Over $82 now. I have followed some of Mr. Schwartz's calls. He is no better than most seasoned traders and just another talking head filling time on useless BNN. While there is a mortgage renewal mountain ahead that will be at higher rates, central bankers have pivotted. The pause is over. Many homeowners will renew at sustainable rates by the time we get over that mountain.