Bank Of Nova Scotia Misses Earnings Expectations. More Banks Expected to Follow.

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The Bank of Nova Scotia was the very first huge Canadian Bank to report earnings, and as was anticipated, revenues were down. Royal Bank, Bank of Montreal, CIBC, TD Bank and National Bank all report later today.

Also on this episode, the financial investment world lost an icon with the passing of Charlie Munger. Likewise, Canadian Financing Minister Chrystia Freeland has proposed presenting a Digital Providers Tax, so we'll take a look at that story. The problems for Very first Quantum Minerals continue, with the Supreme Court in Panama shutting down its valued mine. Finally this episode, Air Transat flight attendants voted nearly 100% to authorize Strike Action.

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Bank Of Nova Scotia Misses Earnings Expectations. More Banks Expected to Follow.

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About the Author: Richard Money


  1. Hope you enjoy this edition of the Market Update. There is lots of news in this episode, but the biggest story for me is the passing of Charlie Munger. For many years I’ve looked up to him and he guided my path as I worked as a portfolio manager. The business world will miss Charlie. RIP

  2. Thank you for another great video. Rip Mr. Munger.

    I wish I understood what’s happening with Bank of Nova Scotia better. From your video it sounds like the problem is the 22% rise in expenses. And that rise in expenses is mainly because the bank is preparing to face an increase in defaults on their loans, thanks to higher interest rates? If I’m understanding it right the main problem is the higher interest rates, not any specific policy of Scotiabank.

    1. I think its just general fears of a downturn impacting their business with mortgage defaults. It seems to have recovered the earnings stock price loss quite quickly though

  3. Thank you for the update. Saddened by the news about Charlie, we must realize that Warren is next. Please consider an analysis of what will happen to Berkshire Hathaway stock after that. We know that company will go on, but in which direction? How share price will be affected by the fact that Warren is going to give away almost all of his shares to charity under condition that they will have to get sold.

  4. Charlie…..the rock…..the stabilizer……the grounded……things will never be the same…..studied his work to become the successful investor I am today. What a legend! PEI chiming in with sorrow deep in the heart. 🍁

  5. Our current Fed govt gets worse and worse every year. Digital Services Tax? gimme an effing break. 🤦‍♂️ it’s going to get passed down to the consumer

    1. @@muddywatersbookshelf7758 Who is raising the carbon tax that does nothing for climate and the revenue doesn’t even go into a climate fund? 🙄

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