How to go about securing the best return for your investment in Canada.
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Making sense of the markets this week, October 31, 2021 Oct 30th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Scotiabank says 8 rate hikes are on the way
Scotiabank’s Derek Holt shared that we could see eight rate hikes in Canada over the next two years. That is ag.... More »
Big banks defend their records to MPs amid allegations of questionable practices + MORE Jun 12th
Federal MPs are hearing from Canada’s big banks as a parliamentary committee explores allegations of questionable sales practices at major financial institutions.
The committee launched the hearings following media reports citing unnamed employees at some banks who allege they were pressured t.... More »
Husband of ex-Scottish leader arrested: report - CTV News Apr 5th
Husband of ex-Scottish leader arrested: report CTV NewsSturgeon's husband arrested in SNP finance probe BBCHusband of SNP’s Sturgeon arrested in financial probe: UK media Al Jazeera EnglishLive news: Zelenskyy arrives in Poland on state visit Financial T.... More »
Investing in the health care sector—better returns than tech? + MORE Apr 19th
The tech sector has been a favourite of Canadian investors in recent years, thanks to growing global adoption of technology, innovative product offerings, a revenue boom and stock price appreciation—all of which have created a fear of missing out among investors. However, tech stocks have been qui.... More »
4 Cost-Effective Ways to Boost Employee Productivity + MORE Apr 23rd
Few business leaders have access to the capital they need to carry out all of their plans or strategies. Often, leaders have to make tough decisions regarding their resources and their budget. This means that anything a business leader can do to complete a project without breaking the bank can be in.... More »
Boost returns with low P/E stocks
– moneysense.ca
Canadian value investors pay attention to what money manager Francis Chou has to say in his letters to investors. True to form, his recently published semi-annual letter is well worth reading.Amongst other topics, Mr. Chou discusses the beleaguered pharmaceutical giant Valeant (VRX). As a fan of market history, I was intrigued by a comment on price-to-earnings ratios (P/E). He noted that, “we will analyze the situation using a multiple of 14, which is the average P/E multiple a company on the Dow Jones Industrial Average has sold for over the past last 100 years”
That got me wondering how an investor would have fared by sticking to stocks with positive P/E ratios below 14. My colleague and MoneySense senior editor Mark Brown, kindly ran a series of backtests on Bloomberg to help me get to the bottom of the issue.
Mr. Brown started by looking at a portfolio of Canadian stocks with market capitalizations in excess of $500 million, with their primary listings on the TSX, over the 20 years through to the end of 2015…
Business Highlights
– canadianbusiness.com
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Wells Fargo fined $185 million for improper account openings
NEW YORK (AP) — California and federal regulators fined Wells Fargo a combined $185 million on Thursday, alleging the bank’s employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals.
The San Francisco-based bank will pay $100 million to the Consumer Financial Protection Bureau, $35 million to the Office of the Comptroller of the Currency and $50 million to the City and County of Los Angeles. It will also pay restitution to affected customers.
It is the largest fine the CFPB has levied against a financial institution and the largest fine in the history of the Los Angeles City Attorney’s office.
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European Central Bank: Governments must do more for economy
FRANKFURT, Germany (AP) — The European Central Bank left its stimulus measures on hold Thursday and warned governments in the 19 country euro currency union that they need to do more to help the economy grow and push up inflation to healthier levels…
Wells Fargo fined $185 million for improper account openings
NEW YORK (AP) — California and federal regulators fined Wells Fargo a combined $185 million on Thursday, alleging the bank’s employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals.
The San Francisco-based bank will pay $100 million to the Consumer Financial Protection Bureau, $35 million to the Office of the Comptroller of the Currency and $50 million to the City and County of Los Angeles. It will also pay restitution to affected customers.
It is the largest fine the CFPB has levied against a financial institution and the largest fine in the history of the Los Angeles City Attorney’s office.
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European Central Bank: Governments must do more for economy
FRANKFURT, Germany (AP) — The European Central Bank left its stimulus measures on hold Thursday and warned governments in the 19 country euro currency union that they need to do more to help the economy grow and push up inflation to healthier levels…
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,803.26, up 6.51 points):
Baytex Energy Corp. (TSX:BTE). Oil and gas. Up 31 cents, or 5.13 per cent, to $6.35 on 8.7-million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up 56 cents, or 4.26 per cent, to $13.71 on 6.8-million shares.
Whitecap Resources Inc. (TSX:WCP). Oil and gas. Up 77 cents, or 7.64 per cent, to $10.85 on 6.4-million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Down 17 cents, or 0.77 per cent, to $21.90 on 5.7-million shares.
Enbridge Inc. (TSX:ENB). Oil and gas. Up $2.66, or 4.71 per cent, to $59.10 on 5.7-million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 18 cents, or 2.88 per cent, to $6.07 on five-million shares.
Companies reporting major news:
SNC-Lavalin Group Inc. (TSX:SNC). Engineering. Down 22 cents, or 0.39 per cent, to $55.91 on 230,809 shares. SNC-Lavalin made nearly $118,000 in payments to federal parties that violated the Canada Elections Act over a seven-year period, the elections commissioner said Thursday…
Toronto Stock Exchange (14,803.26, up 6.51 points):
Baytex Energy Corp. (TSX:BTE). Oil and gas. Up 31 cents, or 5.13 per cent, to $6.35 on 8.7-million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up 56 cents, or 4.26 per cent, to $13.71 on 6.8-million shares.
Whitecap Resources Inc. (TSX:WCP). Oil and gas. Up 77 cents, or 7.64 per cent, to $10.85 on 6.4-million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Down 17 cents, or 0.77 per cent, to $21.90 on 5.7-million shares.
Enbridge Inc. (TSX:ENB). Oil and gas. Up $2.66, or 4.71 per cent, to $59.10 on 5.7-million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 18 cents, or 2.88 per cent, to $6.07 on five-million shares.
Companies reporting major news:
SNC-Lavalin Group Inc. (TSX:SNC). Engineering. Down 22 cents, or 0.39 per cent, to $55.91 on 230,809 shares. SNC-Lavalin made nearly $118,000 in payments to federal parties that violated the Canada Elections Act over a seven-year period, the elections commissioner said Thursday…
Wells Fargo to pay $190-million to settle customer fraud case
– theglobeandmail.com
In May 2015, California prosecutors alleged that Wells Fargo pushed customers into costly financial products that they did not need or even request
Chief financial officer steps down at Canadian Pacific Railway after 16 months
– canadianbusiness.com
CALGARY – Canadian Pacific Railway’s chief financial officer is stepping down just 16 months after he was appointed.
The Calgary-based company says that Mark Erceg’s last day will be Friday and that he will be returning to the U.S. to take on a new job as CFO of an unnamed American company listed on the New York Stock Exchange.
Canadian Pacific (TSX:CP) says that Nadeem Velani, vice-president of investor relations, has been named interim chief financial officer.
Erceg came to the railway in May 2015 from doormaker Masonite International Corp. where he had acted as CFO since 2010.
On Tuesday, CP announced that Bill Ackman would be resigning as a director after four years. The American activist investor sparked a company turnaround that included the hiring of retired Canadian National Railway executive Hunter Harrison as CEO.
The post Chief financial officer steps down at Canadian Pacific Railway after 16 months appeared first on Canadian Business – Your Source For Business News.
The Calgary-based company says that Mark Erceg’s last day will be Friday and that he will be returning to the U.S. to take on a new job as CFO of an unnamed American company listed on the New York Stock Exchange.
Canadian Pacific (TSX:CP) says that Nadeem Velani, vice-president of investor relations, has been named interim chief financial officer.
Erceg came to the railway in May 2015 from doormaker Masonite International Corp. where he had acted as CFO since 2010.
On Tuesday, CP announced that Bill Ackman would be resigning as a director after four years. The American activist investor sparked a company turnaround that included the hiring of retired Canadian National Railway executive Hunter Harrison as CEO.
The post Chief financial officer steps down at Canadian Pacific Railway after 16 months appeared first on Canadian Business – Your Source For Business News.
