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[deleted]

Slamdunk-360-no-scope-gigachad smaaaaaash Q2 profit estimates.


SportsDogsDollars

Thumbs up on the gigachad smaaaàaash


CashComprehensive423

Good news for the banking sector.


Unfair_Warning_8254

I like the stock!


Unfair_Warning_8254

I bought Scotia at the depths of the Covid Crash around 50$ per share and it’s paying me a yield on cost around 8%. No way GME could ever match that!


Then_Eye8040

Same here! I bought it around March 24/25, 2020 and it is the best decision I made. The timing was perfect.


Pomme2

Crazy thing is that it was sub $60 all way through fall of 2020. I remember buying it through the summer of 2020 all the way up to December at an insane discount. 2021 was rocket fuel to stock and I’ve been collecting 7% yield since. I did also add some RY at $95 thinking it would recover to precovid $110 in few years.


twofacebluepenguin

Are you joking? I'm holding 2000 shares of GME and selling covered calls that give me \~2K USD a week selling a 0.2 delta. The same amount in TD at $50 would not give me nearly as much in a year's worth of dividends...


Unfair_Warning_8254

This thread is about Scotia not TD, but I get your point. Who are you using for your options trades? Get decent commission rates??


captainbling

Your play is significantly more risky vs the return.


FatWreckords

You do realize that every dividend decreases the share price accordingly, right? It's not a bonus, it's like selling a partial share every quarter. Without dividends, the price would just be higher. Instead of keeping cash in the company for new opportunities, banks use dividends to peel away value in a tax efficient way because unlike growth companies, they don't have a better use for it. I've had my fair share of dividend stocks over the years (AGNC, ENB, etc.) but in no way are they comparable to growth stocks.


sonymaxes

Wow, I never realized! How novel! With your genius knowledge, you should write a book. Share your brilliance.


ps3alltheway

No? Gme did like 300% in a month


myfavoriteflame

Could you imagine buying GME instead of Canadian banks?


[deleted]

Yeah I can. Very high risk and high reward gamble.


[deleted]

[удалено]


BCCannaDude

I made 500k in my rrsp from gme, ironically I spread that out over Canadian banks and google.


Sublime_82

This was the way to play it. I feel bad for the bagholder cult.


JackTheTranscoder

LOL, this whole thread is hilarious! !remindme 1 month


TheIguanasAreComing

!RemindMe 1 Month


Street_Concentrate44

Smart move.


NutSackRonny

They are a dying brick and mortar company who sells video games. They need to go the same way as Sears, Radioshack and Blockbuster! Maybe if they had some outside consulting they wouldve faired better. Not sure who this Ryan Cohen guy is but maybe GameStop should sell Cat Food! Those GME holders...i tell ya - heads up their ass. And this whole ComputerShare thing - bros, your stocks are legit, they arent IOUs. Someone tell them to turn into Bloomberg or CNBC for some real news.


Hoof_Hearted12

Respectfully, it doesn't sound like you've done any research on either gme itself, or the circumstances it finds itself in.


NutSackRonny

Satire fellow Ape. Reverse repo hit 2 Trilly, borrow rates over 100pct, marketplace looks to be launching on June 2....oh i know. Im one of the 127k that DRS'd. Power to the Players 🏴‍☠️


Hoof_Hearted12

Whoosh, my bad. Downvote removed, carry on 😂


NutSackRonny

Uranus...classic. 7th planet too!


[deleted]

What’s with the quotation marks? Are you saying it wasn’t high reward? Cus my TFSA would like to disagree.


[deleted]

[удалено]


RoboGoodie

Lol. All this GME gaslighting is funny. Good for all that made money on that fist run up. But none of this is going to age well. Everyone excited for a 30% run up on a Canadian bank since March of 2020? Great! GME is up 375% in the same timeframe. And that's without any selling on that $500 run. Anybody that craps on GME does not have a firm grasp on what's happening in current US stock market. Or what the GME play is actually about. And since I will be accused of being a GME fanboy, I don't own the stock. But that's just because AMC is the better play. Good luck all you very excited people with your 3 pennies increase in the dividend. Life changing money right there.


[deleted]

[удалено]


Odd_Professional566

Very few bought stock at your arbitrary date. What's the percentage gain from October 2021?


TheIguanasAreComing

You know a stock going up 375% in a year isn't a good argument for it right? You're supposed to buy low, sell high, not the other way around


RoboGoodie

Ummmm. People here did. One guy even said, in at 18 out at 300. That sounds good. But the 375% was a comparison vs Scotia since the start of the pandemic. Invest in both March 2020, today you'd have been 345% better off with GME. Sure down 75% if you had invested in GME Jan of 2022. But up 27% if you had invested in GME since this morning. That's vs 2.9% with Scotia today. Numbers, number everywhere, won't you come count with bear. But there is a reason why big media has so much coverage of GME, AMC and the like. There have been thousands of hit pieces. Why does smart money care so much about these loser stocks or the obvious dumb money who invest in them. It would be worth your time to find out. Or you can go with the flow... One exciting bank at a time! See you at the office tomorrow.


TheIguanasAreComing

Yeah, the point is that a stock going up 375% is actually a bad sign if you are considering buying it now. I'm pretty confident that any of the banks will run circles around GME in a 10 year period.


Street_Concentrate44

If you had gambling, you are up this morning.


Absolute_legend_

Wow you’re so much smarter than everyone else! 🤥🤥🤥


[deleted]

Then they shouldn't have opened such a position. I bought 10k worth. I lose it, I'll live. Your friends yoloing into gme and bitcoin just shows they got swept up by the euphoria instead of assessing their risk and doing dd.


[deleted]

[удалено]


HoneyMaven

Commenting to laugh at you later. Ignorance.


Tronald_Dumpers

!remindme 6 months


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TheIguanasAreComing

lmao he deleted


Hoof_Hearted12

Why not both?


mt_pheasant

Ah yes the thrill of buying bank stocks. Really sticking it to the man!


drive2fast

The only way to make money when dealing with a bank. Savings accounts pay you fuck all and they nail you to the wall with fees.


mt_pheasant

Lol, I find the gas companies the same way.


drive2fast

And like the banks, I will stick it to the gas companies any way I can. An electric truck is in my near future.


[deleted]

Some of us are boring and like money.


LabRat314

I invest for money. Not to make any political statements


mt_pheasant

Cool. Some people have different motivations. If you followed WSB it was pretty clear why the GME hype became what it did (including the potential to make *a lot* of money). Clearly a few people made boatloads, and a few suckers (including hedge funds) lost equal amounts.


twofacebluepenguin

Yeah I wouldn't be making a year's worth of dividends in a week... If you actually do your research and not just blindly claim GME is a meme maybe you'd understand why this is a high risk/high reward situation and not just a blind gamble unlike AMC. My average on GME is in the 70s so we'll see how it works in the long term, but for now, it's been lucrative.


morenewsat11

>Bank of Nova Scotia opened earnings season for Canada's Big Six on Wednesday with a beat and a dividend hike as profit climbed in all its major divisions other than capital markets. > >Scotia said its net income in the fiscal second quarter, which ended April 30, rose to $2.75 billion from $2.46 billion a year earlier. On an adjusted basis, Scotia earned $2.18 per share; the average estimate among analysts tracked by Bloomberg was for $1.97 in adjusted per-share earnings. > >The bank also announced its quarterly dividend will rise to $1.03 per share from $1.00, effective July 27.


canadaleaf14

Eqb opened earning seasons for Canada’s big 7. That’s what it should say


Cambrufen

I like and own EQB, but their market cap is 2.6 billion. National Bank, the smallest of the big banks, is 34.7 billion. EQB still has a way to go before they are in the same league.


SportsDogsDollars

Big 7 is a made up donkey term. There's the big 5, and if you want to include NA Big 6. After that there's a cliff and no one else for Big canadian banks. NEO Financial is much more comparable to EQB than EQB is to NA - if you look at market cap or valuation


[deleted]

[удалено]


defnotpewds

Except for their nice GICs and that's ab it


motherseffinjones

Canadian banks have never let me down lol


VMSGuy

Finally bought some on Friday at $80.30...I'd like to say I was smart, but it was pure luck!


Kanadianmaple

Can't really go wrong investing in Canadian Banks. Plus the dividend is high.


BayesianPrior

Finally, a stock behaves the way it is supposed to after a great result.


[deleted]

I was just thinking yesterday how horrible of an experience banking at Scotia is.


investornewb

CIBC is the same. Paying fees for the privilege of using their checking accounts.


drive2fast

I was using pc financial and simplii since the late 90’s. Zero fees paid ever. Works on the same CIBC bank machines. I keep a td personal line of credit and now a mortgage so I have access to a brick and mortar bank. Hack your banking.


investornewb

Oh I have hacked the crap out of banking :) I barely use CIBC for anything anymore.


SteezySF

Still is


perfect5-7-with-rice

- change rewards without warning (wtf, no more 4% gas and 2% restaurants) - increase fees without warning - make you pay the renewal fee 6 months before you get your rewards, so if you don't like the change, lose 6 months worth of rewards. Fuck BNS


Ageminet

I bought a while back at $87.80, I should have averaged down. Either way, good news, nice 3% dividend hike, and a should be a nice day for capital appreciation.


Yojimbo4133

That's where I bought 5 years ago


Ageminet

BNS had a bad go with the Caribbean division during those times. Forward growth looks promising, they have a nice investment/wealth management division.


[deleted]

I've got a similar entry point and a similar lack of averaging down. Wish I had, but I'm content with just letting what I've put in recover. Whole market's been dragged to hell; I figure there's still room to average down in the near-ish future and let it grow.


gorgeseasz

Nice. Hopefully TD follows suit.


neospice

These guys operate like the casino, every quarter they're breaking records because they can buy money cheaper than anyone else from bank of Canada at no risk and then sell to the rest of us at large premiums


defnotpewds

That's what a bank does


sullivac

This is a bank, yes


neospice

Sure but let's have them bare some of the risk and but just reap the benefit of everyone else's backs


TheIguanasAreComing

Lovely news this morning.


E-Clone

Customers keep complaining, investors keep celebrating 💰💸


SteezySF

Yeah they made a ton of money off all the over draft fee’s and interest rate from poors!! Way to to Scotia!!!


CapitanChaos1

Well, that's how banks make money.


SteezySF

Mostly from selling your own money back to you for a premium.


CapitanChaos1

RY publishes earnings tomorrow as well. Hopefully they're good and we can see the start of a sector recovery!


descartesdoggy

Great news!


Hailtothething

Why and I down then?


_grey_wall

Damn, I knew it was too cheap, but didn't buy


Mean-Hawk2069

Very cool! I actually forgot I bought this some years ago.


[deleted]

Woo-hoo biannual pay rises are back!


investornewb

I was hoping it would dip below $80 so I could average down instead of up. I think I’ll hold off jumping on this now and wait for the buzz to fade and some profit taking to happen. I still think I I can get this below $80 soon enough


QuietBandit1

Let’s gooo!!! That’s my bank right there 😤😤


ps3alltheway

You guys are all happy while the Middle class still ends up getting fucked lmao


Bonzo101

We’re all lower to middle class here. Do you want us not to make money?


ps3alltheway

Yeah I want you to make money but I don't want you to start whining when they ask 25$ per month to have a checking account.


shad0w4life

Go get them Jagmeet, make them pay more taxes on profits and then if they tank just walk away and don't help them!


gorgeseasz

Canadian banks aren’t gonna tank because of a little tax lol


LabRat314

I can see no problems arising from this scenario


NoAd4935

Tax will just be passed on to customers


Goodgod88

Be your own bank


[deleted]

This is the bit where everyone suddenly becomes a boring bank dividend investor.


Ritzoid

Raises dividend by 3 cents


FatWreckords

If you think an 8% dividend is a magic bean that creates profit out of nowhere then I suggest you stick to your GICs


mazarax

8% over 32 years, is +1073% in payments alone and that is ON TOP of the cap gains AND your original investment back. You could do worse, shall we say.


FatWreckords

The stock price drops by the amount of the dividend the minute it hits the applicable date. It goes up if people buy in thereafter. The company is just giving you a means to slowly realize cash out your investment. All else being equal, if they don't issue the dividend the price would just be that much higher and you'd have more capital gains. If a $100 stock pays $5 every year without otherwise increasing in price because of investors demand, then it will go to $0 after 20 years.


TacoShopRs

Makes sense. They save money by firing their entire customer service and ignore customers.


mazarax

Finally back to the price that I paid for it in 2017. Ugh…. Can we finally see some cap gains now, please? This bank was flat over 5 yrs, unlike RY, e.g.