[MrBlackhill]

Yup. As I keep saying, growth stocks will be riskier than ever this year and in 2023.

 

[Ukrainiandude]

How much of growth stocks are in SP500?

growth stocks

 

[MrBlackhill]

How much of growth stocks are in SP500?

That's SPY

And that's QQQ

 

[doctrine]

New ATH for me, so yes still enjoying the highs, as I am very heavily weighted to value, a.k.a. energy, financials, and materials/cyclicals. Also of note these areas did pretty well after the dot com bust; energy went on a tear for 6 years.

 

[MrBlackhill]

Yup. As I keep saying, growth stocks will be riskier than ever this year and in 2023.

View attachment 22616

And NASDAQ is now at -8% YTD on the 6th day of the year. And currently on a -10% drawdown from all-time high.

 

[Ukrainiandude]

Growth stocks. Some of them even make money.

• BABA -60% from ATH
• BYND -70% from ATH
• NIO -53% from ATH
• SNAP -55% from ATH
• SPCE -83% from ATH
• SPOT -43% from ATH
• SQ -55% from ATH
• PLTR -65% from ATH
• PLUG -70% from ATH
• PTON -82% from ATH
• PYPL -42% from ATH
• ZM -65% from ATH

 

[m3s]

Ok

Let's make this guy the Finance Minister already.

https://twitter.com/i/web/status/1482697895774076930

The first MP that speaks something besides hand waving boomer economics

 

[Ukrainiandude]

Let's make this guy the Finance Minister already.

The money should be something that can only be increased by the amount of GDP growth.
Current PM is as disastrous and dangerous for the economy as his father was. Probably even more oblivious to economic laws.

 

[KaeJS]

I'm surprised someone hasn't punched him in the face yet.

 

[Tostig]

I'm surprised someone hasn't punched him in the face yet.

Throwing pebbles at him isn't enough for you? This is the kind of Canada you want?

 

[Ukrainiandude]

Anyone is taking some profits in financials? Bank stocks are insane. More than doubled in the last 2 years. Unhealthy? Or banks are now making double money? I doubt that.

 

[Benting]

Anyone is taking some profits in financials? Bank stocks are insane. More than doubled in the last 2 years. Unhealthy? Or banks are now making double money? I doubt that.

Well, people have been calling me nuts when I told them I have more than 90% bank stocks in my portfolio....,,

 

[Ukrainiandude]

Well, people have been calling me nuts when I told them I have more than 90% bank stocks in my portfolio....,,

You could ask Germans what they think of Deutsche bank shares as an investment.

 

[m3s]

Canadian banks are very lucrative because they are a protected oligarchy running on archaic mainframes and can lend magic money that doesn't actually exist

Eventually Canadians will want access to the same innovation that is blooming in other countries. SHOP will be a shorter flash in the pan than Nortel and Blackberry if we don't learn from our ignorance

Pierre sees this coming. He is setting up for a long term career in politics unlike the boomers who will fade away into luxurious LTC facilities

 

[doctrine]

Anyone is taking some profits in financials? Bank stocks are insane. More than doubled in the last 2 years. Unhealthy? Or banks are now making double money? I doubt that.

As always, it's hard to predict. I prefer to hold bank stocks when they are more expensive, and buy them when they are on sale, which comes around every couple of years. My last bank purchases were in 2020; BMO at $63, BNS at $50, CIBC at $78, RY at $87. So while I might not buy BNS at $93 today, I am not really interested in selling, because you just never know when to get back in. What if it drops to $80, and you think "I'll wait for $75", and it goes to $100? Whoops.

 

[milhouse]

Anyone is taking some profits in financials? Bank stocks are insane. More than doubled in the last 2 years. Unhealthy? Or banks are now making double money? I doubt that.

Just to nitpick, if you are going to ask if banks are making double earnings because their share price has doubled from their lows during the pandemic, you also need to ask if banks made 40% less when their share price dropped correspondingly from their pre-pandemic price levels.

Instead, I think the more fair numbers to use are pre-pandemic to now which show more like a 50% gain. That said, I don't think you'll see that earning have grown 50% from 2019 to today. However, IIRC, pre-pandemic, bank share prices had stalled for a couple of years. Steve Eisman of the Big Short fame was shorting the Canadian bank stocks in 2019 expecting a normalization of the credit credit cycle with earnings needing to be allocated to reserves to account for bad loans. With OFSI imposing its dividend and share buyback restrictions on financial institutions to build up capital reserves for pandemic armageddon, government stimulus, and then the worst not happening, banks are now flush with cash and don't need to allocate more earnings to bad loans which is now the opposite of what Eisman was basing his short on.
And no, I am not advocating buying bank stocks based on this.

 

[Eder]

They seem crazy pricey for new money but I’m not selling any either as long as they continue spewing more and more dividends my way

My kids will be happy executors and sell them once I croak

 

[AltaRed]

I suspect my Executor will do the same thing.

 

[KaeJS]

Throwing pebbles at him isn't enough for you? This is the kind of Canada you want?

I'll tell what Canada I don't want; the one we have right now.

 

[KaeJS]

I have been nibbling on some banks here and there, but am finding it difficult to justify these prices. I last bought some BMO at $131 and RY at $141...

I tried to get CM at $159 but it ran away from me and I don't want to pay over 160.

Honestly, the best deal right now looks like National Bank. I'm overweight BNS so won't be adding anymore for a while.