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Opinions Larry Berman CFA, CMT, CTA
BMO EQL WGT US BANK HDGD TO CAD IDX ETFZUB.TODON'T BUYMay 02, 2016
Larry Berman CFA, CMT, CTAUnknown
$18.98
Stock price when the opinion was issued
$40.29
As of Jun 19, 2026. Market Open.
E.T.F.'s
It's the ideal tool to help you make quicker, more informed decisions for managing and tracking your investments.
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PARTIAL BUY
Basket of US retail and diversified banks. Don't have to worry about currency moves. He like the USD, so he'd prefer not hedged. Banks have gotten hit on recession worries. An opportunity here, though you might be a quarter or two early. Financials tend to perform well early in the cycle, though we're not there yet. Very cheap at 1.4x book value. Pick away at it. Best opportunities come when people are most unsettled. He's picking up some US financials right now. Yield is 2.3%.
E.T.F.'s
BUY
Will US banks do well? Yes, the financials in the US will do well. Their economy and markets will do well this year, and so will their banks. Not worried at all.
John HoodOwned
E.T.F.'s
SELL
Time to cut losses? He has had a lot of questions on this one. Investors tend to run to banks when interest rates are thought to be rising as bank profitability tends to rise when rate spreads expands. US banks did not do well last year for various reasons. With the investment cycle going on he believes interest rates are likely to remain where they are, so the outlook for US banks is not likely to change. He might suggest selling and moving into a broader market based ETF.
E.T.F.'s
PAST TOP PICK
(A Top Pick Nov 22/19, Up 2%) Still likes the banks. Trend is still decent, despite the pullback. Will stay as long as highs and lows keep getting higher.
Keith RichardsOwned
E.T.F.'s
PAST TOP PICK
(A Top Pick Nov 22/19, Up 4%) It recently enjoyed a recent breakout after a long consolidation this year. This means that this breakout will be powerful. Good to hold this for a while.
Keith RichardsOwned
E.T.F.'s
TOP PICK
He likes the US banking space -- holding about 9% in his portfolio. There was a breakout that occurred in October that triggered them to go long. He is not bullish on the Canadian banks, however. Yield 2.0%
Keith RichardsOwned
E.T.F.'s
DON'T BUY
He owns only JP Morgan, it's well managed. Later stages in the cycle. Net interest margins coming down is not good for financials. Since early 2018, any basket of US banks has been underperforming. A lot to do with interest rates. Not looking to add banks at this stage. Be cautious. Look at staples, utilities, or REITs instead.
E.T.F.'s
BUY
He likes the US banks. In the 4th quarters it got battered. But still likes them.
John HoodOwned
E.T.F.'s
Or ZBK-T. If you want to be in the banks this is probably a good place to be. But he feels US banks will underperform for a long period of time. He does not like the sector.