Before Shorting Canadian Banks

Canadian Banks – What are we taking about? Canada = 35M people. 1.2% annum stable population growth since 1972 (Toronto 2.6/5.6) (Montreal 1.6/3.8) (Vancouver .6/2.3) (Calgary 1.0/1.2)(Edmonton .8/1.1) (Ottawa .8/1.2) (Everywhere else 20M) Destination for people and money. 280,681 immigrants in 2010 Imagine California with only 5 firms in loans, banking, brokerage Those 5 banks are all Toronto HQs. A town with terrible commutes Bank stocks are an important cornerstone for Canadian investors Canadian Banks – What the Shorts see PICTURE – STBANKX exposed to consumer debt levels equal to US consumer levels in 2007. And housing bubble too boot!…