Follow this link for Bay Street's reaction to Eisman's thesis: www.bnnbloomberg.ca/1.1242415
@GIPvideos5 жыл бұрын
Wow Steve Carrell NAILED THAT ROLE! He sounds just like him that's so crazy
@alexanderleo68094 жыл бұрын
JBass14 I just realised, that is pretty crazy
@withoutwroeirs5 жыл бұрын
"You can't have negative loan loss provisions forever" - the fact they even exist should send shivers down your spine.
@niklasvonderwarth47255 жыл бұрын
exactly. defeats the whole purpose of it. Kind of an oxymoron.
@Matlockization5 жыл бұрын
Do American reserves banks have any experience with this ?
@kzgc8y3n5 жыл бұрын
Really appreciate Steve Eisman coming on to explain in depth his thinking. Very valuable interview.
@alphabravo35665 жыл бұрын
He apologized so many times.. I think he became canadian. Lol
@dev4statingx905 жыл бұрын
Cool joke bro...real fucking original.
@lindafukuyu57675 жыл бұрын
Alpha Bravo : say who that canadians are apologetic.
@Mic333995 жыл бұрын
Haha he comes to Canada twice or three times a year... he has become Canadian
@mgellman46465 жыл бұрын
Lol I mean the reporter was so defensive it was kinda ridiculous. Like it's not a personal slight against Canada, it's just what he sees happening in the market. If anything they should listen and then try to improve upon what he is saying if it turns out to be true
@dev4statingx904 жыл бұрын
@@Yentra163 fuck yourself
@ms.carlson39044 жыл бұрын
This lady is very intelligent to know how to ask good questions with this guy and keep her cool. She seems very knowledgeable.
@celcorsystems1890 Жыл бұрын
She was a VP of Deutsche Bank for 5 years, worked at Goldman Sachs for 3 years and also the managing director of North South Capital LLC. She is not an ordinary interviewer.
@matthewbond3755 жыл бұрын
I think the level of denial among Canadian financial "experts" is an alarming red flag. This man is simply betting that things should go in the direction that they appear to be going. A normal credit cycle. Not a calamity. Even this suggestion is met with resistance. In many cases, vitriolic resistance. Nobody is able to argue why this man is incorrect, I'm simply hearing smears and denial. This is cause for concern. Mortgagees should prepare themselves, especially if you were conned into a variable rate. HELOC users should be at red alert.
@CaliKing4155 жыл бұрын
This reporter definitely did her homework, BNN just got a new subscriber!
@ytyt39225 жыл бұрын
Franklin Sanchez Martinez a good interviewer for sure. Clear and direct. No bullshit.
@celcorsystems1890 Жыл бұрын
She was a VP of Deutsche Bank for 5 years, worked at Goldman Sachs for 3 years and also the managing director of North South Capital LLC. She is not an ordinary interviewer.
@depnox5 жыл бұрын
I'm Canadian. Short away at the banks, no need to apologize for taking from the cartel.
@Explorer9825 жыл бұрын
Except all the negative effects it will have on business and us.
@johnthompson96025 жыл бұрын
Dep Nox, if you hate bank fees or interest or whatever, just buy a couple of bank shares (setup an account with TD Waterhouse for instance). Then enjoy seeing the bank dividends landing in your TD Waterhouse account, each quarter, without you moving one finger. At that time you will be part of the "cartel".
@BOG06905 жыл бұрын
@@johnthompson9602 Cant beat em, join em!
@idk_bud5 жыл бұрын
This guy knows what is up... And down. 🏁
@bahaalsharif5 жыл бұрын
Join Toronto Housing Market Crash group on facebook with over 2200 members, latest housing news, link below facebook.com/groups/213639685923730/
@wildandliving5 жыл бұрын
Differnt markets us stick market has been p Bettingnon canada going down over and over and over. Completly different systems ect
@bobsmith28865 жыл бұрын
a decade of zero and close to zero interest rates around the world means a lot of bubbles are about to pop. Tsla, corporate bonds/junk bonds, real estate, stocks, etc
@schopen-hauer5 жыл бұрын
ipos are a sign too
@canadiannavigator33465 жыл бұрын
Bob Smith 💯
@34196515 жыл бұрын
@@schopen-hauer how are IPOs a sign? Just wondering
@keijo4565 жыл бұрын
@@3419651 Because the early investors in companies like LYFT and UBER want to cash out.
@schopen-hauer5 жыл бұрын
nothing worse for the rich then holding overvalued assets
@cosmicblaze16085 жыл бұрын
Same thing happening here in Australia. The government rushed through parliament a 'bail-in" type law last year. The RBA looking to cut rates and concerned about negative equity for properties. All on the back of a royal commission into misconduct in the banking and finance sector. As usual the banks will be rescued but households will suffer (job losses, foreclosures etc).
@pauloshea37415 жыл бұрын
The Bail-in laws that you mention, have been implemented worldwide (Anywhere the IMF touches) in the last 24 months.
@MarcBaldassi5 жыл бұрын
"listen I'm not here for 5%"
@robertblue37955 жыл бұрын
the interviewer is pretty sharp. thumbs up
@thatsrandom7375 жыл бұрын
I sensed this coming. I'm a Canadian living abroad. Canadians need to wake up.
@fabulousdolphin42215 жыл бұрын
Canada is fucked. merely a Chinese colony
@buddacanada5 жыл бұрын
You don’t have to apologize that much just because you are talking to a Canadian!
@freedomforall29245 жыл бұрын
Just buy Doge and Qredit coin. Sorry off topic.
@kangkim1505 жыл бұрын
@@freedomforall2924 71% loss on Qredit since your recommendation.
@cvcexcomm5 жыл бұрын
I work in credit risk management for one of the top 5 banks in Canada. I can tell you, while Steve Eisman, is a smart guy with an interesting insight, he's looking in the wrong place. Canadian banks loan loss provisions are lower than what he expects because we have stringent credit underwriting process. For example: B-20 lending guidelines have push mortgage credit underwriting to be more conservative. Commercial loans, for the most part, are reviewed on annual basis. Majority of the bank's debt issued is securitized with either real-estate and/or liquid assets and have partial/full recourse.
@lucky19895 жыл бұрын
Lol numbers can't be fudged right, you can't take a private loan from someone else for a downpayment right?
@lindafukuyu57675 жыл бұрын
Nicknackman : do you know the term “derivative” ?
@cvcexcomm5 жыл бұрын
@@lindafukuyu5767 yes, but in what context? Can you elaborate the point you're trying to make?
@cvcexcomm5 жыл бұрын
@Rick S We're not going to see a crash. Maybe an easing of the market as we've already seen for the last couple of years. Despite personal debt levels, there is still a lot of wealth in the country (not foreign). Additionally, of the 48% with only $200 in savings, how many of these individuals are middle working class? Unsecured non-recourse personal debt/loans account for only ~12-15% of most schedule 1 bank's debt book, where they are risked-base price (meaning borrowers pay the higher interest if they have higher perceived risk). Most of the other debt is either secured via real-estate or liquid-secured with recourse. Regarding the housing market: Rental demand is still higher than supply. Yes, and also despite the money laundering issues noted in the news recently, there is still a lot of legitimate foreign capital that is coming in to Canada. Those riding the bear on the Canadian real-estate market need to do understand a few of things that differentiate our situation from 2008: 1) banks are now better prepared 2) Canadian regulations are much more stringent than the US. 3) Canadians have a higher level of education and better job security than in the US. 4) Canadians have better access to social services (health/education) to ensure more of our paycheques can go towards debt/housing obligations. 5) We are a much smaller economy compared to the US, allowing for faster intervention or discovery of underlying issues. Some food for thought...
@sylvaintremblay33115 жыл бұрын
@Rick S Like was pointed out by Eisman, residential loans are in large part insured. You need to make a downpayment of over 20% and you need to show you can make monthly payments at the current rate +2% just to get a loan. Credit losses would come mostly from commercial and industrial loans, not the housing market.
@TheSolidsnake20015 жыл бұрын
There is more than one way to short a stock. Short stock if you have lots of capital or leverage it to make a killing and short call, buy puts, short bull call spread, credit put spread and keep adding to the short positions when the trend continues.
@ari_is_faded86114 жыл бұрын
Steve was spot on, it is going on right now.
@AdnanAli-fg5sh4 жыл бұрын
Its kinda scary how right he was.
@kt7187 Жыл бұрын
Actually he was very wrong
@ytyt39225 жыл бұрын
Vancouver real estate is already down 20-30% and volume is at 1980s levels. That’s got to hurt for the banks.
@heehead56005 жыл бұрын
40% in some areas!
@niceshot45635 жыл бұрын
People need to stop buying houses for a year and fuck up the whole system.
@angrybird73245 жыл бұрын
here from quebec we seen vancouver housing prices as insanity for so long it's no surprise it crashes, a bubble is a bubble.
@desoztoppieter98955 жыл бұрын
wake me up when its down 80% and housing becomes affordable.
@ytyt39225 жыл бұрын
Saint Nasim Najafi Aghdam you should be equally angry at the government, particularly Trudeau, for promoting mass immigration which not only causes housing to spike but also suppressed wages
@mattball70743 жыл бұрын
Admittedly, had to search a lot of this... but this is pretty spooky. Know what else is spooky? This (at this time) has less than 130K views
@nznsi5 жыл бұрын
I don't know about in Canada but here in the U.S. houses are selling within hours of being listed & they regularly sell for $10,000+ over asking price. Meanwhile, interest rates remain low, household debt is at a new record high and wages are flat. Let's not play dumb, I think we all know there will be some economic pain in the near future.
@emperor681885 жыл бұрын
Household debt is NOT at a record high in US, it's pretty low at the moment.
@nznsi5 жыл бұрын
@@emperor68188 Google it... "American household debt just hit a new record high"... many articles from Feb 12th, 2019.
@rgdlessard30365 жыл бұрын
How about Detroit? Hows the market there?
@francoislepine46985 жыл бұрын
Ok, so he's had six more months of paying 5% divvys on his shorts....and his position is a further 5-10% in the red....I wonder how long he can keep this up???
@stevepatterson11245 жыл бұрын
15:00 "I don't think there is a Cdn Bank CEO that knows what a credit cycle looks like" no truer words were ever spoken. All Canadians have become complacent to risk. That is WHY it will happen.
@PainCausingSamurai5 жыл бұрын
I love you on the Debaters. Haha, we're screwed.
@TheYoyozo5 жыл бұрын
That line really stood out. Sobering
@danotic5 жыл бұрын
"no truer words were ever spoken"...lmao. Please get some credibility before making those statements. Your KZbin channel is not helping lolll
@stevepatterson11245 жыл бұрын
@@danotic You mean like 30 years experience and making multi millions of dollars? That kind of credibility? Moron!
@jooky875 жыл бұрын
Great questioning!
@miaa70975 жыл бұрын
So I should save up the rest of 20% and just wait for housing prices to drop. Gone start home shopping soon
@dhagos5 жыл бұрын
Mona Al if you’ve been listening to his since 2013 and doing that, you still would of been better off buying one back then 🤯.
@niceshot45635 жыл бұрын
Instead of putting down 20% you are better off putting down 5% and paying CMHC and investing the rest of your money in securities. You should only put down 20% if you have absolutely no idea how to manage your own investment portfolio.
@dhagos5 жыл бұрын
Nice Shot agree but have to say it ... “we’re confusing leverage with genius” 🧐🤣
@miaa70975 жыл бұрын
@@niceshot4563 I do invest. Biweekly I deposit $400 into RRSP n $200 into my TFSA. I have about $20k in my investor edge (TFSA), and $40K in my RRSP inventory edge I also invest in my education, currently enrolled in MPH online. I wanna save up 30% so I dont have to pay a lot of interest in long run, also If my down payment is 30% or more I will for sure lower my biweekly payment. I didnt grow up in Canada I grow in middle east the idea of borrowing $300k from the bank is crazy to me. Cuz what would happen if I lose my job or I cant work? Back home ppl save up so they can buy what they can afford. I hate cc debt. Its rabbit hole u really dont wanna go in. I really like renting, I typically average 5-7 years in each city/town than move once I get better job. I recently got sweet job at Edmonton, $50/hr. I gave 5 weeks notice and it only took me weekend to move. I didnt have to query about selling house or anything. Just packed my bags n moved. So, if I buy house it will stop me from finding great job 😊
@niceshot45635 жыл бұрын
@@miaa7097 You are better off putting it in a TFSA than an RRSP. You will pay tax on it when you withdraw from your RRSP, you won't with a TFSA. Max out your contributions on your TFSA, then do RRSPs.
@ThePorschefan5 жыл бұрын
It would be great to have both Steve Eisman and Brian Belski in a room talking about the canadian banks!
@burntofferings37705 жыл бұрын
Canada is way over extended and overly reliant on energy and the housing market. Combined with excessive government debt and a rapidly declining economy trouble is soon ahead.
@Eric007005 жыл бұрын
Burnt Offerings rapidly declining economy? We haven’t had a quarter of negative growth since 2016
@robertbohli78205 жыл бұрын
@@Eric00700 uh uhc un in
@BOG06905 жыл бұрын
Yup. Get ready millenials, your socialist utopia is coming down.
@theshawnmurphyjournal29465 жыл бұрын
The energy companies are all moving to the usa
@Awenda184 жыл бұрын
Private debt is insane too. Prof. Steven Keen says we are top three regarding private debt in the world and ready to implode!
@oicub25 жыл бұрын
Translation, it's just about time for a bankster bailout
@KingUnKaged Жыл бұрын
Steve Eisman is not the first man to underestimate how much Canada is willing to sacrifice to protect its banking oligopoly and it's real estate addiction. He gave the game away when he said he wasnt expecting Canada to collapse into the ocean. That is precisely what it would take.
@wendellbautista99805 жыл бұрын
He is saying that banks are overpriced and thus the reason why he is shorting. 90% of revenues are from the negative loan provisions, he believes that banks will start increasing the loan provisions and consequently revenues will decrease.
@mard98025 жыл бұрын
Hi, I don't know what that means - can you say that in regular English?
@michaelcre85 жыл бұрын
@@mard9802 In the video they explain, Eisman said he calculated these three banks are underestimating loan losses. And among other things, he mentioned their dependence on the price of oil. Canada and all of North America is overinvested in oil from the price being so high for so long. It looks like the fossil fuel lobby has been suppressing any meaningful political action for green energy for decades, so now large parts of the economy are not prepared for an abrupt transition.
@mard98025 жыл бұрын
@@michaelcre8 Thank you for that explanation. Much appreciated.
@danotic5 жыл бұрын
It's pretty obvious that you felt the need to restate what he's saying because you felt that he didn't state his point clearly enough.. especially if you watch the video to the end.
@macsheadroom32095 жыл бұрын
Canadian banks were bailed out in 08 nothing fixed, more debt on the taxpayer ..when banks profit they pay big bonuses and when their policy fails, we pay for their failings..a racket.
@marshwetland38085 жыл бұрын
I'd like to see STeve with the same insane eye makeup the anchor has on.
@AlfordLau2 жыл бұрын
Eisman saw an opportunity and announced it based on his gut feeling and his subsequent analyses. The reporter has done a lot of homework, interviewed Eisman to let him explained his points, asked him questions to clarify, asked him further based on his earlier answers, further her questions on his bets' intentions and timing of exit. She put across her questions in a respectful and non-judgmental way with good timing, he answered it the best he could without being defensive or getting angry or personal. What an exchange of thoughts. They are both professional. But did the bet work? Let see ... below ... This video was posted on April 11, 2019, RBC share was priced at C$105 more or less, it's shared dipped below that Feb 2020 and Feb 2021, within which the lowest being C$78.50. Outside of the time range of Feb 2020 and Feb 2021, the stock has been higher than C105, today it is at C$126. The dip in the said time range, I believe it is more COVID related than credit cycle. So do you think Eisman got it right and made his bet fruitful?
@quixomega2 жыл бұрын
Very interesting, I didn't realize how unrealistically the Canadian banks were valuing mortgages.
@dev4statingx905 жыл бұрын
6:08 because they know the government will bail them out. As an American you should know this. It's always we who pay.
@jmdudley38595 жыл бұрын
Mr.Eisman you are right !
@willarddonnovan67734 жыл бұрын
TD Bank, Royal Bank, CIBC, Bank of Nova Scotia, Bank of Montreal, Laurentian, National Bank of Canada, of which he is short RB, LT, CIBC
@PierreMarcLegault5 жыл бұрын
The faith in the Canadian dream is strong.
@IronLion1415 жыл бұрын
That's some good calculatin'
@PR12Luis5 жыл бұрын
What's the list of banks hes referring to? Thanks
@andrewjohnstone79435 жыл бұрын
Canada has 5 big banks: TD, RBC, Scotiabank, CIBC, and BMO. They all have large international presences and each have over $500 billion CAD in assets
@PR12Luis5 жыл бұрын
He mentioned $RY $CM... but i dont understand the 3rd one tho
@PR12Luis5 жыл бұрын
At minute 16:34
@andrewjohnstone79435 жыл бұрын
@@PR12Luis Laurentian bank is a smaller Canadian bank. It's like 7th biggest or so. Its size is more like a standard regional American bank
I'd be bricking it if I had money in a Canadian bank.
@Ed-pv6ke5 жыл бұрын
At the end of every video or column about Canada it always ends one or 2 ways. I have nothing against Canada & heart it to the max, or It's America's fault. Sheeesh. Canadian banks were positioned well in 2008 crisis and didn't take it as a signal to position themselves for the future. Rested on laurels and got chincy on reserves to keep the illusion of invulnerability.
@coldfusionspacexxx98145 жыл бұрын
Ed Banks are a private tool to pump out money from the governments...it goes in cycles at the end is usually a bailout of the banks. Bank of England -private FED is also in private hands...
@rajahjain55595 жыл бұрын
Maybe look at what big stakeholders have been doing with their shares in the last 2 years.
@kevinschmidt92115 жыл бұрын
It seemed like she was trying to make him feel bad for betting against the Canadian banks. I don't think any sane individual thinks Canada isn't long over due for a major credit correction. House prices need to drop, and banks need correcting, this is reality. Canadian consumers have the highest debt per dollar income in the developed world, they need a good smack to wake up, and a wake up they will get.
@JJs_playground5 жыл бұрын
What does this mean for the average Canadian that has money saved in Canadian Banks?
@trapOrdoom4 жыл бұрын
I think you only need to worry in the case of banks insolvency. But I think you’re protected until it’s like absurd like $100M
@maxcapital85705 жыл бұрын
I ,seein this years ago coming ,but no one at the fund Would back me up.
@theshawnmurphyjournal29465 жыл бұрын
Canadians have credit card debt , the housing market is strong for now but if it declines , with this green energy b.s there commodity sector is being destroyed ,revenues from oil and gas has declined so much that capital is ending up in usa banks
@2009shajib Жыл бұрын
What he says now?
@-RockOn-5 жыл бұрын
I am going to be closing on a pre construction in Toronto. Should I go ahead or should I wait?
@39PSIOnTheDaily5 жыл бұрын
"Rock On" Don’t buy it. Are you insane? Don’t buy anything right now. This is entirely a bull market.
@-RockOn-5 жыл бұрын
@@39PSIOnTheDaily Even if it is for a long term investment??
@-RockOn-5 жыл бұрын
@@monsieurfortuna9952 How much would the dip be?? For eg if I buy a condo for 400k then let's say in 1 and a half year goes up to 480k then there is 20% dip which brings it to 400k again. Then am I really losing?
@39PSIOnTheDaily5 жыл бұрын
"Rock On" Don’t buy at the dip. I live in Markham. Don’t buy anything at all right now.
@monsieurfortuna99525 жыл бұрын
Real estate is a long term investment with big returns. I just bought my third condo and I plan to rent it out.@@-RockOn-
@andrewjackdaw25113 жыл бұрын
I think The Covid19 Catalyst was enough for him to close down those shorts on March 2020 :) The banks are still fairly okay in Canada /my opinion/ but that global fall was a good quitting point from the shorts.
@paulsimonsson5 жыл бұрын
Anyone can give a follow-up on his predictions?
@ron.mexico. Жыл бұрын
It’s amazing how wrong these pundits are.
@mrsquishyboots5 жыл бұрын
Chinese money laundering depends on Canadian real estate. Just look at the price of a mansion in Quebec. People outside your country can't calculate the 10 million dollar price instead of 4. The oddball prices of your houses kept my boss up all night. He went down a internet rabbit hole.
@truthteller21415 жыл бұрын
The housing market in Canada is going into the ocean...
@qualityreno96892 жыл бұрын
The housing market in Canada is not going to collapse?!?! Oh... the interview took place 3 years ago! Ask him the same question now, please.
@MultiFastfreddie5 жыл бұрын
I was looking in to this before seeing this interview. I think he is to optimistic. Their are some retarded things happenings with our financial institutions. They are selling bonds backed by credit card debit and car loans. Low income people are stretched to breaking and its getting worse.
@PlayMyMusicPlaylist4 жыл бұрын
2020 unemployment is high, deferral rate is high, and house prices still go up, banks share still stable although there are billions of loan losses. I also don't understand it. Maybe corruption run deep in the system....TBTF.....sorry corrupt Canadian.
@marcbachelet23225 жыл бұрын
OK, so he is the Mark Baum. Indeed the actor looks like him.
@jplmelanson5 жыл бұрын
He's going for at least 30+% given it could take a few months to years to realize
@bahaalsharif5 жыл бұрын
Join Toronto Housing Market Crash group on facebook with over 2200 members, latest housing news, link below facebook.com/groups/213639685923730/
@MrArtrigor5 жыл бұрын
My negative economic indicators for Canada..1.more homeless people roaming 2. More people visiting garbage bins 3. more parking spaces on streets 4. More u-haul trucks used every end of the month 5. Oversupply of used cars in auctions 6. more people smoking cannabis 7. increasing scooter and bicycle use 8. high vacancy of commercial space 9. My bank card is rarely used. 10. Some friends staying away..Lastly,, 11th I want to smash something to release my frustration....
@gurkiratpandher24574 жыл бұрын
He’s missing a small thing. I love how much he went into depth into canadian banks. Now the point is if liberal’s policy of immigration goes on he will lose his bet for sure.
@CANWESTTECH2 жыл бұрын
Is Eisman still shorting Canada banks
@felixfrost15644 жыл бұрын
Huh, maybe his view is correct we just had a 10 year record of insolvencies. I’d be buy buy buy when it drops though
@derekmwolff5 жыл бұрын
Bail outs come after the crisis after the stock shareholders get crushed. He’s not calling for a crisis just a good old fashioned bear market.
@easterntechartists5 жыл бұрын
he's right.
@Jan_YTview5 жыл бұрын
Canadian system, although fragile like so many other countries is not based on the outright fraud that lead to USA disaster 2008. Next crash will come out of left field and maybe not even a bank at root cause. Insurance companies should be watched, risk is their business model too.
@chineduogboh45945 жыл бұрын
Could this be another early stage ray dalio?
@YYLegend5 жыл бұрын
i may advise my dad's firm about this lol, i'm Canadian and i want TD to fall.
@YYLegend5 жыл бұрын
damn no TD.. and scotia's not there, good.
@KP-zd3hc5 жыл бұрын
ZERO!
@derekross66495 жыл бұрын
Canada? I wanna know about Los Angeles California, United States of America.
@WorldReserveCurrency5 жыл бұрын
Weird. That implies American banks are doing much better.
@CmanCorporations5 жыл бұрын
is that why warrenbuffet bought billions worth of US banks?
@Chewychaca5 жыл бұрын
The way Eisman is making money today is by betting on the fact that no one reviews their risk weights. might be obvious to many, but BEARs repeating.
@epidermiuss Жыл бұрын
howd this age ?
@Clubrat4 жыл бұрын
Real estate is such a hassle.
@taragragg4005 жыл бұрын
Oh that dog is wagging.
@coldfusionspacexxx98145 жыл бұрын
1.The CAD already lost 49% value(purchase power) against the USD from the all time high...and it keeps falling. 2.Housing prices are 60% overinflated for decades now...it was not ever realistically sustainable...
@John-ep4in5 жыл бұрын
Ath was around par, where are you getting 50% from?
@coldfusionspacexxx98145 жыл бұрын
John During the strong period ~ 2010 the CAD was around 1.1 against the USD. Now (2019)lets say you buy a Tesla M3; in the US you pay 35,000 whereas in Canada you pay 47,500 which is 36% difference... Furthermore some stuff that you need to buy has a cumulative effect such as the rising fuel prices has...which are already costing more than during ~2010... (Fuel and food are what the average people live on...the ones that buy a Tesla car in Canada (snowbirds)are probably more concerned about the house prices in Phoenix and Florida...)
@dansprogis45215 жыл бұрын
@@coldfusionspacexxx9814 Was the CAD strong or the USD weak? This was fallout from the 2008 crisis and on top of that oil prices were sky high. As soon as oil started dropping, so did the CAD.
@coldfusionspacexxx98145 жыл бұрын
Dan Sprogis Both, the US was still in recession from the housing bubble...Canada was lucky because the Alberta oil boom was huge in relation to the negative factors and sum of those were lifting up the CAD to an all time high...
@philosopherx11395 жыл бұрын
There is a little known fact from the 2008/09 crash.. Every single Canadian bank failed and they were bailed out to the tune of $144Billion.
@markgallicano5 жыл бұрын
where did you get your info from.
@danotic5 жыл бұрын
spreading lies via KZbin.. rich
@daveyboy_5 жыл бұрын
When all those banks all over went into insolvency , did Canadian ones didnt
@brianp68935 жыл бұрын
Huh!?
@seanacameron89402 жыл бұрын
Proud of you, my fair lady. We have strong banks. And if housing prices go down, it will be great. Means China is moving on !!
@johnhetherington88305 жыл бұрын
Where did they dig her up ?
@human15135 жыл бұрын
She was on another similar type major tv show on a different CDN. network for about 5 years. She formerly worked in the financial industry. Smart & easy on the eyes.
@ronniedelahoussayechauvin67173 жыл бұрын
Underwriting Corruption...Insurance Fraudsters!
@laylalayla53645 жыл бұрын
Can Canadians pls get over the need to be told nice things about Canada!
@ytyt39225 жыл бұрын
Layla Layla lol seriously. How many times did Steve have to clarify that he has nothing against Canadians? It was cringe worthy.
@pererik67314 жыл бұрын
, she asks good questions.
@Caitgreenham3 жыл бұрын
It will tumble to the mud. 799,999 to buy a shed
@davidmcquaid7862 Жыл бұрын
Something tells me he was just early on this call…stay tuned
@waynejones56355 жыл бұрын
Canadian banks are in very weak positions and worthy of short delta option positions. Those banks share the same mismanagement of risk policies.
@thomaskauser89785 жыл бұрын
It means your assets are in danger!
@bighoss87935 жыл бұрын
Troy Aikmans brother
@willarddonnovan67735 жыл бұрын
what.about.bail.ins?
@ryansmithc5 жыл бұрын
This is the same guy who also bet 1 million shares into GameStop last March and said it was on its way to recover. Everyone gets lucky.
@C99915 жыл бұрын
R S Dr. Michael Burry is also holding stock in GameStop for Scion Capital, there might be something there, when it seems to obvious you should look further into it.
@Joe-jc5ol5 жыл бұрын
And the short sellers wait, and they wait, and they bleed money...
@jomo44355 жыл бұрын
TIME TO REAL IN OUR ENTITLEMENTS RETIRING WILL BE VERY DIFFERENT THAN IMAGINED GET YOUR PERSONAL DEBT IN ORDER
@sergiobowers69305 жыл бұрын
#EthereumForPrimeMinister
@profitsgalore16245 жыл бұрын
Nice
@Bill-cv3dy5 жыл бұрын
Ok, what does this mean for the man on the street, and woman,
@mr7wi5 жыл бұрын
it could mean the tightening of credit - may be harder to get a loan or mortgage through a bank - so other providers will step in, which will increase the cost of borrowing because those suppliers borrow from the banks. if you're invested in RBC, CIBC or Laurentian you could have a loss because earnings were overstated (funds should have been kept in reserve instead of paid out in profits)
@Bill-cv3dy5 жыл бұрын
mr7wi thank you
@mr7wi5 жыл бұрын
Sleeve Of Wizard If liquidity ramps up companies will draw down their revolvers and hold onto cash and lenders will walk away from projects. All this plus the swap curve inversion makes me think it’s 2008 all over again.
@ronniedelahoussayechauvin67173 жыл бұрын
You would have to be involved to understand. Sounds like the Mob.
@micro44444 жыл бұрын
who is she?
@kqh1232 жыл бұрын
Glad I didn't take on this trade
@ytyt39225 жыл бұрын
Holy crap Steve, WE GET IT. This isn’t against Canada or Canadians. You simply think Canadian banks are overvalued. End of story. Geez, he apparently thinks the entire country is a bunch of sensitive snowflakes that he had to reassure us about 10 times during the interview.
@patrickchen43905 жыл бұрын
well the lefties get offended easily...
@sunspun0175 жыл бұрын
Otherwise you will see anti-capitalism rally at ur nearby campus.