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Canajun Finances Home » BMO and Scotiabank Numbers Stink

BMO and Scotiabank Numbers Stink

BMO Numbers Stink

Is now the time to buy then? I have no bloody idea, but it is an interesting question to ask.

BMO announced their numbers on Tuesday Morning, and they were crappy. Not crappy like Nortel numbers (which are really crappy), crappy where they didn’t make enough money to make analysts happy. Does this mean we should all run out and buy stock because they did such a bad job? OK, maybe I phrased this incorrectly, but that is basically what I am hearing from some analysts, “Buy now because the stock is lower, and it is a stock with good solid foundations”. 

If a company performs badly and puts out bad numbers, and the stock drops in values, I should buy the stock? This is an over simplification, but that is some of the advice I have heard, and that I heard during the Tech Bubble explosion too.

I have never really figured out when is the best time to buy stock, so I just buy when I have the money and hope for the best. An odd tactic, but that is the way it works for me.

Scotiabank Sucks Too

Scotiabank announced at 2:00 PM and their numbers did not make analysts dance for joy either. Should we go out and buy Scotiabank now too? Don’t ask me, I just report this stuff, should you invest in a company that had their profits drop by 2%? At least they have profits, is one way of looking at it.

Today Bank Attack

Today, I walk back into my bank and will attempt a few precise financial manoeuvres:

  • Set up an RRSP for me
  • Investigate how to set up a locked in retirement account
  • How to extract money from an RESP, which is interesting
  • Try to get no fee banking for another year

I want 4 out of 4 success, I’ll keep you all posted.

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