Why I'm Bullish on Bank of Nova Scotia (BNS)

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Here are the main reasons why I'm bullish on Bank of Nova Scotia. Despite the subprime mortgage problems that we've been experiencing this past year, I am still very much bullish on the stock.

Here is a summary of my reasons:
  • a very unique international growth strategy focusing on central and south america and pretty much avoiding significant exposure to the USA - this is a good thing at this time

  • Scotia is Canada's 3rd largest banks by assets and they rank 2nd by market cap in canada

  • Scotia's total returns over the past decade have averaged 20% per anum

  • Steady rising dividend. Boring but stable.

  • Current dividend yield of 3.80%

  • Stock has been unfairly beat up in the last little while

  • I like Canada's Oligopoly. It limits competition and allows the banks here to rake up massive profits

Comments

MG (moneygardener) said…
I really like BNS when it gets under $50 as well.
December 24, 2007 at 10:30 AM
torontoinvestor said…
Thanks for the comment MG. I will likely post about what I think about Citigroup later. I think it's a screaming buy at $30... Stay tuned!!
December 26, 2007 at 11:41 PM
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