Cibc

[Radio_Shack]

I saw a few discussions about CIBC here earlier but can't seem to locate them with search function.

Now that most of the news is out about the banks subprime and all that crapola what do we see CIBC stock doing in the next few months.

I keep hearing on the tv that CIBC is such a good deal now the price is $70. Is it gonna tank some more?

whats your thoughts and whats your reasoning for the thoughts?

We will review who is right in a couple of months..Should be interesting.

Gonna create a poll too on what you think price (in CAN$) will be March 14, 2008.

 

[PraiseTheLoad]

"CIBC is a bank in trouble" Pick something else guys. Fundamentally this is one screwed up organization.

 

[timy]

ohhh

 

[21pro]

i'd still wait for signs of a true bottom. alot more figures to be released into November of 2008 to see the true Canadian banking write downs on mortgages and loans.

however, if the dividend remains, those that own it should remain holders... as they say, a good dividend allows an investor to be stupider, longer...

much more interesting stocks out there than cibc. there's quite a few potential 10 baggers in the market today. why settle in hopes to make 100% over the next 7 years (canadian banks hindsight) when you can in 2 years?

 

[Robio]

It is a chartered bank

"CIBC is a bank in trouble" Pick something else guys. Fundamentally this is one screwed up organization.

It is a chartered bank!
As long as you do not have more then $100 000 in any one account with them you should be ok.
As far as high risk investments or the stock goes I guess it would be good to stay way from them from what I see here.

 

[Why Not?]

I just heard a rumour here on Bay St. yesterday that they are changing their name to CNIBC because they can't seem to see anything coming (Enron, subprime, their investment banking staff leaving to form Genuity, etc.). They can't even keep the sign up on the building.

 

[Rockslinger]

Shoot. I thought you meant March 14, 2009 (and not 2008). I voted already ($85). How do I change my vote now?

 

[james t kirk]

They can't even keep the sign up on the building.

Yeah, that was kind of an omen wasn't it.

 

[Rockslinger]

There was a good article in the Saturday Globe on the recent CIBC debacle and a brief history of past CIBC debacles since 1985. They have to stop promoting CEO's internally and do a proper external search. Maybe headhunt someone away from RBC or TD or BNS.

(P.S. How do I change my vote?)

 

[fuji]

CIBC and BMO are both hedge funds with a banking arm.

 

[Rockslinger]

CIBC and BMO are both hedge funds with a banking arm.

Does that mean they either hit a home run or strike out? Except, CIBC is always striking out.

It is enough to make one want to invest only in mutual funds, except that I think mutual fund investing is for wimps. "Real men" don't buy mutual funds. We lose money the old fashion way (by "investing" directly in stocks).

 

[fuji]

Just means they take a LOT more risks than you would expect from a bank.

 

[AJstar]

It is a chartered bank!
As long as you do not have more then $100 000 in any one account with them you should be ok.
As far as high risk investments or the stock goes I guess it would be good to stay way from them from what I see here.

That is for deposits,not stock prices! Anyway,they are not going anywhere. Give it some time,1or 2 years and they will be back up.

 

[slowpoke]

TD, RY & BNS are considered more conservative and steadfast than the other banks in Canada. FWIW, TD claims to have no subprime exposure at all. At this moment, these 3 are trading at new 12 month lows so these would seem to be safer for bargain hunters than BMO or CM. BMO and CM usually have a slightly better yield but TD, RY & BNS are all over 4% at these prices. In these uncertain times, NOBODY will be cutting their dividend unless they absolutely have to. RY is also the biggest bank and they will probably be out shopping for more foreign banks at bargain basement prices. These are excellent opportunities for anyone with spare cash.

 

[fuji]

Historically yeah RY/TD/BNS have been more conservative than the wild and woolly folks at BMO and CIBC... but I wouldn't trust any of them further than I can throw them.

People see banks as conservative institutions but these days they ALL mess with some pretty wild stuff, and bet the entire farm more often than people realize. Banks operate under the assumption that if they get into real serious trouble tax payers will bail them out, and that makes them risk lovers.

RY/TD/BNS have done a better job of risk management, or so it seems.. maybe they've just been luckier so far.

 

[slowpoke]

Historically yeah RY/TD/BNS have been more conservative than the wild and woolly folks at BMO and CIBC... but I wouldn't trust any of them further than I can throw them.

People see banks as conservative institutions but these days they ALL mess with some pretty wild stuff, and bet the entire farm more often than people realize. Banks operate under the assumption that if they get into real serious trouble tax payers will bail them out, and that makes them risk lovers.

RY/TD/BNS have done a better job of risk management, or so it seems.. maybe they've just been luckier so far.

We can only guess what is going on behind the scenes with our big banks. Hopefully this subprime debacle will reward those who've been careful and punish those who've been reckless, greedy etc. The bond rating agencies and the bureaucrats who oversee the banking system all deserve a black eye. Meanwhile, RY, BNS & TD may have been simply lucky but their history of avoiding the pitfalls that have tripped up the others suggests at least slightly better governance.

 

[Radio_Shack]

Maybe I should have added another choice to the Polls.

- CIBC Bankrupt

 

[21pro]

Maybe I should have added another choice to the Polls.

- CIBC Bankrupt

most likely scenario.

anyways, as of yesterdays drop both TD and BNS are much better deals.

 

[slowpoke]

TSX is up 224 points as of 10:13 am. Anyone think we've bottomed out for the time being at least? More bad news could make things worse but, as it stands now, it looks like a bit of a recovery may be underway. Further rate cuts and federal interventions may stop this down market in its tracks. Any thoughts?

 

[21pro]

nope. but, smart decisions can always be made when there is blood in the streets. just make sure your decision is a smart one.