Amidst all these headlines about European debt, a slowdown in the U.S economy, lack of leadership from the world’s leaders, and heightened default risk in troubled banks all around the world, I always say to myself thank goodness I live and invest in Canada. I find that I continuously repeat myself in stating that Canada has everything necessary for a prosperous future. We have a stable Government (no geo-political risk), a strong currency, natural resources (water, lumber, oil, fertilizer), and the most stable banks in the world.
Having said that, take a look at the Reuters article below (click on link below). Ed Clark, the CEO of TD Bank, is envisioning that TD Bank will be growing their U.S business in the next three years whereas Bank of America is selling their Canadian credit card business (to TD Bank ironically) and the U.K’s HSBC wants to sell their Canadian Brokerage business. The good news is we participate in TD through our managed portfolio’s so it is only fitting that I forward this information to you. In today’s volatile trading environment, professionally managed money benefits by diversifying opportunities, reducing risk, and having dividends reinvested to buy additional units while invested.
http://www.reuters.com/article/2011/09/07/us-torontodominionbank-idUSTRE78648Q20110907
