Good Advice Here worth checking out
posted on
Sep 22, 2021 08:52PM
We may not make much money, but we sure have a lot of fun!
Nigel D’Souza, our Financial Services Analyst, was a guest on BNN Bloomberg with Greg Bonnell, discussing his view of the Liberal government’s minority victory and how its proposed tax hikes on banks and insurers will impact the financial sector and shareholders.
“My concern is whether or not this policy measure leads to more oversight or regulation and potentially more taxation for the [banks],” Nigel said. “If the government starts focusing on profit centres or revenue drivers for the banks, such as with banking fees, that could be a multi-year headwind. Hopefully, we don’t see that happening, but so far, there are few details to go on.”
Nigel also discussed his outlook for the banks.
“I think the sector is going to see a couple of headwinds and tailwinds,” he said. “You’re probably going to see benefits from rising interest rates, margin expansion and a recovery in banking fees. But those will be partially offset by higher credit losses after reversals flow through, as well as higher expenses as we get back to a normal cost structure in a post-pandemic world. In total, I think you’re going to see low single-digit earnings growth for the sector.”
Watch the Replay: Liberal tax hike will impact earnings but not economic fundamentals of banks: Investment analyst
A podcast for aspiring money managers
Srivatsan Prakash just graduated from high school in Toronto and is an aspiring money manager. More than two years ago, he started hosting a podcast called Market Champions. More than 175 episodes later, and after passing 20,000 followers on Apple Podcasts, Anthony Scilipoti, Veritas President and CEO, was his latest guest.
They discussed:
If you know of a student who is interested in investing or money management, please pass along the links to this podcast:
We wish Srivatsan great success!
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