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| BUY | 6.800 | Benj Gallander | On the watch list. Could potentially buy any time. Owns 5 banks so had a lot in financial right now. If he didn’t, he could see buying it. Key for the economy in Netherlands. Thinks eventually it will prosper again. | 2011-10-04 | |
| DON'T BUY | 6.880 | Mark Grammer | European insurance companies may be a little bit better than the banks themselves, but they have too much exposure to sovereign debt. | 2011-09-26 | |
| DON'T BUY | 8.390 | Karl Berger | Caught up in banking challenges in Europe. Have a good focus on the international retail market. Before he looked he would see what exposure they have to the European sovereign market. Research this stock and its exposure. | 2011-08-30 | |
| DON'T BUY | 8.470 | Charles Lannon | Got an $8 billion injection from the Dutch government to stay solvent. Have been shedding insurance assets globally as well as some of the banking assets. You would be better served with a more cash flow oriented brand of investing. There will be a lot of volatility over the near-term. | 2011-08-11 | |
| DON'T BUY | 11.700 | Gavin Graham | Not done badly over the last year. Worst scenario for insurance companies is when stock markets and interest rates go down. Although it’s recovered a little bit since the financial crisis, it has large exposure to the European market. | 2011-05-20 | |
| PAST TOP PICK | 13.070 | Lorne Steinberg | (Top Pick Jan 24/11, Up 18.54%) Did get itself in trouble during the collapse. Will be spinning off their two global insurance businesses. Said they would sell ING direct if they get the right price. Trading for less than book value. The breakup value of the company is $25. | 2011-03-25 | |
| TOP PICK | 11.220 | Lorne Steinberg | Pure retail bank/insurance company. Made a small mistake during the financial crisis by taking deposits from ING Direct and buying US sub-prime paper. Now completely recovered and profitable. At a $10-$11 share price they will earn $1.80 per share this year. Took a $10 billion loan from the Dutch government and already repaid half. Will spin off 2 IPO’s in the next 12 months of their US and European insurers. Low risk. | 2011-01-24 | |
| HOLD | 10.980 | Mark Grammer | Has not followed this name that closely, but still has a little concern for insurance and banking industry in Europe. Doesn’t know if they have completely recognized the pain and suffering. He would add US Brokerage, then US banks and then third would be European financial services. ING is right up there in terms of European financial services. | 2010-11-03 | |
| Comment | 9.860 | Mark Grammer | Will be splitting into 2 parts, banking and life insurance. This is probably the right decision, as it will give them a focus. Thinks the insurance business is very strong. European banks are going to have a struggle. | 2009-12-17 | |
| DON'T BUY | 18.730 | Karl Berger | Interesting strategy. Trying to be a low-cost producer in global banking by aggressively going after the retail base, which is fairly capital intensive so this is not one he would favour. | 2009-10-14 | |
| BUY | 16.620 | Alexander Lane, B Comm, C | Went through a harrowing experience last fall. Had some issues distressed balance sheets. Sold off their ING Canada holdings. Given the run on pure banks, insurance companies might be better opportunities at this time. | 2009-09-21 | |
| Comment | 15.070 | Willem Hanskamp | Has been hurt more than any other crisis before. Got caught on the US subprime loans and been forced to sell assets. Have now dealt with a lot of the issues and the Dutch government provided some financial help. Eventually all the banks and institutions will somehow find their way back. | 2009-08-31 | |
| SELL | 9.690 | David Driscoll | Wouldn't want to own this one right now as there will be future demands for more capital, which will dilute the earnings per share. This choice would be Banco Bilbao (BFR-N). | 2008-12-12 | |
| BUY on WEAKNESS | 7.810 | Alan Kral , CFA, CIC | Doesn't think dividend cuts are probable in most of the banking industry. When perception of corporate risk turns, these stocks are going to bounce back quickly. If you own, you could average down. Even if we haven't got all the way to the bottom, snap backs are real easy to come by. | 2008-10-28 | |
| SPECULATIVE BUY | 23.100 | Kevin O'Leary | 10% yield. Too risky to take a full position. May get nationalized, in which case capital gets wiped out. | 2008-10-01 | |
| DON'T BUY | 39.680 | David Driscoll | (Market Call Minute.) Be better one to own me is Northbridge Financial (NB-T). | 2007-12-06 | |
| BUY on WEAKNESS | 44.450 | Mark Grammer | The one catalyst is if it becomes a take over candidate. Relatively cheap bank. Nothing negative to say about it. If it pulls back to around $40, it's probably worth looking at. | 2007-06-06 | |
| BUY | 45.940 | Brian Acker, CA | Model price 58.65. 21% positive differnential. It's as good a time as any to take a bet on this one. | 2007-05-02 | |
| BUY | 46.590 | Paul Harris, CFA | Great company and well run. Not only an insurance company but is also a bank. Good yield. | 2007-04-23 | |
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| HOLD | 44.050 | Kenneth P. Norquay, CMT | In a long-term uptrend. The last little bounce is heading towards an all time high. | 2006-12-15 | |
| BUY | 42.960 | David Driscoll | Strong financial company with 3.5% growing dividend. | 2006-11-09 | |
| BUY | 42.210 | Paul Harris, CFA | Has a very good, growing franchise. Excellent management. Yield is around 4% and trades at 10 X earnings. Cheaper than Canadian banks. | 2006-08-22 | |
| BUY | 33.880 | Don Reed | A great company. The dividend yield has gone down because the price of a stock has moved up. Likes the capital gain move in the stock. | 2005-12-06 | |
| BUY | 29.850 | Don Reed | Very strong company. Good management. Looking out 5 years, it looks like it's got good growth. | 2005-07-25 | |
| BUY | 26.200 | Don Reed | Very strong company and strong diversfication. | 2004-10-05 | |
| DON'T BUY | 25.350 | John Sinkins, CFA | An ADR with Dutch shares being deposited in the US. You could be exposed to currency shifts in 2 jurisdictions. Prefers Canadian names in the financial services sector. | 2004-09-13 | |
| BUY | 19.660 | Gavin Graham | Like the banks.Expect interest rates will remain low.Got hit early in the year but has rebounded somewhat. | 2003-08-06 | |
| BUY | 17.900 | Neil Murdock | Fantastic business. Well run. | 2003-01-13 | |
| BUY | 26.660 | Steven Wippersteg | Have had some short term difficulties. Long term outlook is good. | 2002-04-23 | |
| BUY | 25.340 | Gavin Graham | Has made some good global acquisitions. Good management. | 2002-03-14 | |
| BUY | 75.740 | David Driscoll | Likes | 2001-02-05 |
