Speaking of banks, BMO has about the best ratio between high and present price, Commerce is not far behind both at about 33/34% . RY is at 50% so on that metric less attractive if you assume all will some day again trade at the same price, which is true today with 3 of them at about $26. I think we are at a point where missing the boat is a greater risk than not getting on board. All of these have the potential to rise $20 or so in the next few months so a little nibling is probably a good idea. GE is also a bank!
BMO
BMO’s fertile brain
I was wrong the other day when I mentioned the falling IQs of bankers as soon as they see one of their own. Here is the proof. We are all familiar (there are exceptions) with concepts like prime-rate, bank-rate, LIBOR. TIBOR, cost of funds etc.etc. But did you know that if you juggle them you can have your cake and eat it too? Yes , this time they dropped prime one for one with the Bank of Canada’s 50 beeps but before you get carried away into sentimental admiration, read this. By the way, I cannot figure why the interest is $9.88 a instead of $10 (semi-annual?).