Investing

[Merged] Another bloody red day on the TSX

  • Last Updated:
  • Oct 29th, 2023 1:48 am
Deal Expert
Mar 22, 2004
16012 posts
7474 upvotes
RFD
Good time to buy some Canadian bank stocks. Some are close to 5 year lows. Most are at 1 year lows. Opportunity arises and even more by the end of the year, based on sentiment it should go down more
Newbie
Mar 17, 2023
73 posts
70 upvotes
No reason to buy Canadian Bank stocks. All headwinds are extremely negative. We have had an orderly selloff so far. Fireworks will come. I can see them a lot lower.
Deal Addict
User avatar
Dec 8, 2020
2424 posts
2859 upvotes
West Rouge, Ontario
Rumcoke70 wrote: No reason to buy Canadian Bank stocks. All headwinds are extremely negative. We have had an orderly sell off so far. Fireworks will come. I can see them a lot lower.
are you going to or would you suggest folks start shorting banks left, right & centre, if not, why not?.
looking both ways wasting time doing unimportant things.
Deal Addict
User avatar
Nov 4, 2016
1880 posts
2185 upvotes
I have been sitting on cash for a long time now. I don't dare enter, no one has seen the current situation before AFAIK.
Best shopping deals I got from here:
Asus Zenfone 3 Zoom $300, ZTE Blade V8 Pro $175, Fluld 55' 4k TV $360
Sr. Member
Nov 16, 2021
939 posts
1054 upvotes
CCHIPSS wrote: I have been sitting on cash for a long time now. I don't dare enter, no one has seen the current situation before AFAIK.
Are you putting them in GICs or HISAs?
Deal Addict
User avatar
May 10, 2008
2190 posts
2394 upvotes
Vancouver, BC
CCHIPSS wrote: I have been sitting on cash for a long time now. I don't dare enter, no one has seen the current situation before AFAIK.
I’m in the same boat…waiting to jump in too. Smiling Face With Open Mouth And Cold Sweat
Deal Fanatic
Jul 23, 2007
5133 posts
4927 upvotes
CCHIPSS wrote: I have been sitting on cash for a long time now. I don't dare enter, no one has seen the current situation before AFAIK.
Well I'm not too sure about that. Nothing's ever identical in past history, but as I recall it, I'm seeing some similarities to the late 60's through the 70's with rising inflation. The very early 80's seemed to be even worse until the back of inflation got broken and interest rates started to fall. By that time the North American stock markets returns were negative in real terms over near twenty years, if you didn't or couldn't (i.e. retirement) reinvest your dividends. As I remember one American financial commentator said in the 80's, "it was dividends that saved the day". Same here in Canada with the TSE. It wasn't the end of the financial world after all, but after a while you began to wonder where it was all leading to. Who would of thought it would eventually lead to a fast crash like Black Monday in 1987, and then a thirteen year mostly bullish market right after that. So yeah, some of us have seen all this before, or at least something similar.
Deal Guru
Aug 17, 2008
10990 posts
13540 upvotes
CCHIPSS wrote: I have been sitting on cash for a long time now. I don't dare enter, no one has seen the current situation before AFAIK.
Translation: "no one <alive in the 1980's, is alive now to remember that time> AFAIK." Ignoring how wrong that statement is, that's just proof that there's value in knowing financial history.

The Last Time US Yields Rose So Much, It Sank the Economy Twice
*ww.bloomberg.com/news/articles/2023-10-24/the-last-time-us-yields-rose-so-much-it-sank-the-economy-twice

... Of course, policy was more restrictive during the Volcker era. Adjusted for consumer-price increases, the “real” 10-year Treasury yield — or what it paid after inflation — was around 4% by the time the second downturn of the period started in mid-1981, according to data compiled by Bloomberg. It’s around 1% now. 
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Answer not a fool according to his folly, lest thou also be like unto him = Never argue with an idiot, they'll only bring you down to their level & beat you with experience
Deal Fanatic
Jul 30, 2003
6633 posts
1250 upvotes
Toronto
Rumcoke70 wrote: No reason to buy Canadian Bank stocks. All headwinds are extremely negative. We have had an orderly selloff so far. Fireworks will come. I can see them a lot lower.
Last time I hear all them things (social, expert, news - and all) - I didn't invest in TESLA. I distinctly remember, I had 40k sit aside for just that 1 stock
It was start of Nov (oh wait ... we are at start of Nov) coinkidink?

By Dec it had a dead cat bounce and by Mid Jan - it seemed like its too risky to go in, it should retrace - even if its going higher in long term.

Spoiler: It never re-traced. It never looked back.

PS: I am still waiting for that 12k bitcoin. It touched 15k for 10 sec (I think I was in washroom) at that time. Now its at 30k?

Remember FB was hit by so much bad news (hey What!? November 2022 again for ATL? coinkydink is getting too coinky dinky), it was so down 50%?
So is netflix at password sharing news? - yet they all bounced back with a vengeance.

Moral of story: Nothing, I am john snow. I know nothing :) ... No one knows nothing. If its "good enough" - maybe time to go in? 5 yr low is pretty good?
GTA Housing: Supply is the only Metrics that Matters ... until its solved.
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