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| PAST TOP PICK | 49.450 | Richard Fogler | (A Top Pick July 22/11. Down 3.17%.) | 2011-11-14 | |
| TOP PICK | 52.240 | Richard Fogler | Record card member spending. Up 6% in the US. Up 20+% overseas. Credit card losses are collapsing. They customers are higher end consumers and pay off their bills normally. Earnings are booming. | 2011-07-22 | |
| BUY | 51.130 | Ron Meisels | This one is an exception in that anything doing with US financials has not done well. Had a major sell off in 2008 followed by a wonderful recovery in 2009. Has now stayed in a narrow trading range followed by a breakout this year and looks like it is starting a new major up leg. | 2011-05-30 | |
| HOLD | 41.150 | Hank Cunningham | 5.9% Cdn$ bond maturing April 2013. Hold or sell? | 2010-07-21 | |
| BUY | 40.170 | Don Lato | Very well priced and trading at about 11-12 times earnings. Earnings are growing at about 11%. (See Top Picks.) | 2010-05-19 | |
| DON'T BUY | 31.800 | Paul Gardner, CFA | Trading at 29X forward earnings and under 10X price to cash flow. Considers this in the bank sector and he wants only the best bank/firm in this space such as Bank of America (BAC-N) or Goldman Sachs (GS-N). He owns both. | 2009-08-12 | |
| DON'T BUY | 25.230 | David Burrows | Has no exposure to credit card companies. There is a case to be made for global growth with either Visa (V-N) or American Express (AXP-N) but with savings rates rising, there could be a bit of a challenge from an earnings standpoint. Would prefer asset managers that could participate from a fee standpoint, or a custodian such as State Street (STT-N). | 2009-06-15 | |
| DON'T BUY | 23.980 | Karl Berger | Not particularly enamoured with this company. Credit card defaults are probably going to take a little more centre stage in the US over the next little while. | 2009-05-20 | |
| DON'T BUY | 24.230 | David Burrows | Expect it could run out of gas like many of the financials. Will be completely dependent on the economy. Prefers Visa (V-N) because it does not have the credit risks. | 2009-05-15 | |
| BUY | 19.570 | Alan Kral , CFA, CIC | Has a great deal of strength. Revenue in transaction business and brokerage. | 2009-04-21 | |
| DON'T BUY | 24.920 | David Baskin | Hit along with all financial service companies. US credit card companies are having higher and rising default rates. Theirs is not just a transaction card but also a credit card. | 2008-11-06 | |
| TOP PICK | 28.250 | Charles Bobrinskoy | Great brand that will be around for 7 or 10 years at least, trading at under 10 times earnings – its lowest in history. Even if we get default rates up to 7 or 8%, they will probably make $2 per share and then up to 3.50 or $4. | 2008-10-07 | |
| BUY | 38.160 | Pat Naccarato | (Market Call Minute.) Dominant in their field. Valuation is more compelling than Visa (V-N) and MasterCard (MA-N). | 2008-09-10 | |
| Comment | 38.200 | Paul Harris, CFA | US financials look cheap from an overall financial basis but you have to decide if it is going to be a core position. Not a pleasant environment even for this company. Loan losses are going up and their market is deteriorating. Great company and well run but in this environment you'll probably have to buy more at a lower rate. | 2008-08-14 | |
| BUY | 51.780 | David Baskin | Thinks American financials are probably oversold. Trading at a reasonable multiple of book value and earnings. As long you don't think they have some sort of hidden exposure to the credit markets, you're probably safe buying them. | 2007-12-18 | |
| DON'T BUY | 61.790 | David Burrows | For the short run, in all financial groups, there is a headwind and that is showing up in the share price. Well-run company, just not the right time to have financial exposure. | 2007-06-22 | |
| HOLD | 61.150 | Gavin Graham | Good asset in the American Express card. Pays a good dividend. Has the international and emerging-market play. | 2007-04-23 | |
| TOP PICK | 49.720 | John Sinkins, CFA | The drop of $5 a share a few weeks ago was not an earnings related issue. It had spun out a company consisiting of its financial advisors. Earnings were quite good in the last report. Record profits. The caveat is if interest rates go up, it might constrict credit card use. | 2005-10-25 | |
| TOP PICK | 51.080 | Alison Deans | 2004-03-19 | ||
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| TOP PICK | 52.120 | Cristopher Davis | A wonderfully well-managed company. It's in credit cards, but really in charge cards. It has competitive advantages to its model. They don't have to rent the brand such as Visa. | 2004-03-12 | |
| DON'T BUY | 36.350 | Laura Wallace | Their credit cards tend to be skewed towards business rather than consumers, so you should wait for business travel to pick up. | 2003-04-16 | |
| BUY | 31.180 | Gavin Graham | They have written off a lot of debts. Travel is down. A ling term hold. | 2002-09-30 | |
| PAST TOP PICK | 37.310 | Glenn Paradis, BA, CFA | (Was a top pick on Oct 16 up 16.5%) Still likes. Buying in the low 30's. Great global brand name. | 2002-03-01 | |
| BUY | 33.130 | Brian Acker, CA | This and J.P.Morgan looks better and cheaper than Citigroup. | 2001-11-16 | |
| BUY | 32.400 | Brendan Caldwell | Basically travel oriented. Should recover. | 2001-11-08 | |
| TOP PICK | 31.200 | Glenn Paradis, BA, CFA | Excellent price. Good chance to buy. | 2001-10-16 | |
| BUY | 29.000 | Mark Jackson, CFA | Under pressure because of reduced travel, especially in the business sector. Strong brand name and cash flow generation. A good price for a 2/3 year hold. | 2001-10-09 | |
| BUY | 35.950 | Steven Wippersteg | There are merger/acquisition rumours. A very solid company. AT a good level. | 2001-08-30 | |
| TOP PICK | 37.000 | John Sinkins, CFA | Mired in a trading range of $37/47. Break up value = $60. Brought in Risk Mngmnt to overhaul loan strategies. | 2001-08-29 | |
| BUY | 38.770 | James Cole, BA, CFA | A better value now, so its reasonable. | 2001-07-25 |
