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View Full Version : Is BMO going down?

trent
08-24-2009, 02:31 PM
There are some rumors circulating amongst financial bloggers that Bank of Montreal is in trouble and will cut its $1.5 billion dividend for this year, which might cause a run on the BMO shares and/or a plain old bank run by depositors. Share your thoughts?
Tightwod
08-24-2009, 06:26 PM
Wait for the earnings report tomorrow, may be positive, then dump them! Any one of the Canadian banks could have hidden writedowns but I think BMO & CIBC are the most likely and least able to afford it. I would sell BMO and buy some BNS if you want to keep some exposure to the financials.
bullish
08-25-2009, 02:36 PM
Wait for the earnings report tomorrow, may be positive, then dump them! Any one of the Canadian banks could have hidden writedowns but I think BMO & CIBC are the most likely and least able to afford it. I would sell BMO and buy some BNS if you want to keep some exposure to the financials.

Why would I want to sell my BMO shares, their profit rose 6.9% and the stock si up 5% today?!?
victor
08-25-2009, 07:46 PM
http://thenexteconomy.blogspot.com/2009/08/canadas-looming-banking-crisis-bank-of.html

hope this link works
Steven
08-27-2009, 02:42 PM
Why would I want to sell my BMO shares, their profit rose 6.9% and the stock si up 5% today?!?

Modern banking accounting practices have to be taken with a grain of salt.
Jason
08-31-2009, 02:45 PM
BMO and CIBC are the weakest major Canadian banks and when real estate heads south, they will the first banks in trouble.
trent
09-08-2009, 09:01 PM
BMO and CIBC are the weakest major Canadian banks and when real estate heads south, they will the first banks in trouble.

I agree. Once the real estate bubble pops all Canadian banks are in trouble.
Tightwod
09-24-2009, 06:11 PM
Why would I want to sell my BMO shares, their profit rose 6.9% and the stock si up 5% today?!?

From then until today, BMO up 1.5% BNS up 5%.;)
Canadian
09-24-2009, 07:25 PM
From then until today, BMO up 1.5% BNS up 5%.;)

I'm still very bearish on the economy and I don't believe in the recovery speeches various officials are pushing on us. The reason I'm saying this is because Canadian banks will be negatively affected once the recovery nonsense is over and the housing bubble pops. In short I think that 6 months from now Canadian banks stocks will be much lower than today. There you have it :)