Canada

  • Canada or Switzerland? YOU CAN'T TELL, CAN YOU?

    News

    Canadian Regulators ThisClose To Getting Impolite Re: Money Laundering

    No really, they’re serious this time. Cut it out. Please? Eh?

    / Feb 4, 2015 at 1:12 PM
  • Hedge Funds

    Bill Ackman Loves Canada

    He loves its peameal bacon. He loves its pea soup. Its real maple syrup. Its mounties and moose and trappers. Its hockey players. Its railroads. But, most of all, he loves how easy it makes his job—and how hard it makes it for its companies to stop him.

    / Oct 17, 2014 at 4:15 PM
  • News

    The Bitcoin Bugle: Blame Canada

    Our neighbors to the north have appropriated the dubious claim of “first country to regulate fake currencies,” with hopes that others will follow their frozen lead when adopting their own bit-loony money launder laws. Assign responsibility accordingly when something inevitably goes wrong.

    / Jun 24, 2014 at 12:48 PM
  • News

    Earnest New Canadian Stock Exchange Stresses Personal Responsibility, Slower Pace Of Life

    Nostalgia can be a surprisingly powerful force in marketing financial products, and without knowing much about it I have high hopes for this new Canadian stock exchange? It’s like a regular stock exchange (in Canada), only they won’t allow high-frequency trading. I mean, they will allow it, but not the bad kind: Aequitas plans to […]

    / Jun 25, 2013 at 12:39 PM
  • eh?

    CASH+ Breakfast, News

    Let Me Introduce You To: One Financial Corporation

    So here’s a story about a Canadian asset manager and I don’t know what to do with it so I’m pretty much just going to tell you the story, and at the end there’ll be a quiz, and the choices on the quiz will be like: Is there something a little weird about this company? […]

    / Jun 6, 2013 at 9:27 AM
  • syrup

    News

    Bank of Canada Has No Idea Who It’s Dealing With

    The smell of success is particularly sweet in Canada as an unending stream of residents swear that the new $100 bill is the scent of maple syrup. The national treasury released a new plastic bank note in November 2011, and they have received hundreds of emails from residents who are convinced that the bills have […]

    / May 28, 2013 at 4:14 PM
  • News

    Everything Would Be Perfect If We Were More Like Canada

    A new thesis from a Columbia professor says our banking system would be way better off if we had started off as a French colony. Or if we weren’t so populist. Or if we hadn’t gotten so peeved over taxes 238 years ago and just stuck with the British Empire for a little longer. Or […]

    / Apr 10, 2013 at 6:30 PM
  • Not welcome in Canada

    Hedge Funds

    Now Canada Wants Activist Investors To Share With The Rest Of The Class

    If you’re an activist investor your job is to (1) think of an idea for how to make a company’s stock go up, (2) buy stock in the company, (3) convince them to do your idea, and (4) sell high. Step 3 tends to involve lots of attention-seeking – it’s easier to wear a company […]

    / Mar 22, 2013 at 5:20 PM
  • News

    Some (Not Very Convincing) Evidence That This is Still the Greatest Country in the World

    Today is not a great day for the American government, people, economy and reputation. But that doesn’t mean a good dose of schadenfreude can’t lift the gloom some.

    / Mar 1, 2013 at 3:39 PM
  • charlesevans

    News

    From High Atop of Victoria Peak, ChiFedPres Can Look West and See The Future. And The Future is Meh.

    Well, this is not especially encouraging:

    / Jan 14, 2013 at 12:48 PM
  • News

    When Canadians And Romanians Conspire

    So here’s a little story about a man named Peter Beck. Once upon a time, he ran a day-trading operation with 5,000 traders in places like China, Nicaragua, Romania and, worst of all, Canada. And he used that network to manipulate markets, regulators say; at the very least, he knew his charges in 30 countries were doing so, it is alleged.

    / Dec 19, 2012 at 12:42 PM
  • This is a graph of "Bank Total Risk" as measured by "6-Months Rolling Risk Measures." You could have questions about these measures, which are a combination of (1) stock market measures (basically the vol of a bank's stock) and (2) balance sheet measures like Z-scores. So you could ask yourself "does this reflect the bank's risk-taking, or the market's perception of the bank's risk, and are those meaningfully different things to measure?" ANYWAY. Up is riskier.

    News

    Don’t Rely On Rating Agencies To Tell You Who Will Get A Bailout

    A thing I sometimes enjoy is reading research papers examining questions like: if you are a bank, and you are likely to be bailed out, do you take more risks than a bank all on its lonesome, and once you’ve been bailed out, what then? We’ve looked at a BIS paper on international banks, which […]

    / Aug 21, 2012 at 12:09 PM
  • News

    Canadian Bank Will Let Its Hair Down For Super Bowl XLVI

    From: RBC US Capital Markets COO Sent: 2012, February, 03 2:43 PM Subject: Superbowl Sunday As I’m sure you are aware, this Sunday is the Superbowl, one of the cornerstones of the sporting calendar. Despite being a Canadian bank, this is one event that many of us in the U.S. take pretty seriously.

    / Feb 3, 2012 at 4:16 PM
  • Regulation

    Jamie Dimon Will Use The Phrase “Anti-American” Until You People Get It

    Jamie Dimon of JPMorgan Chase launched a tirade at Mark Carney, Bank of Canada governor, in a closed-door meeting in front of more than two dozen bankers and finance officials, underscoring mounting tensions between bankers and officials over financial regulation. The JPMorgan chief executive’s remarks to Mr Carney, who is touted as a potential next […]

    / Sep 26, 2011 at 10:56 AM
  • MBAs, News

    RBC Wealth Management Chief Uses Threat Of Layoffs To Take A Swipe At MBAs

    John Taft, the Chairman of the Securities Industry and Financial Markets Association and the CEO of RBC U.S. Wealth Management, said he’s hearing firms are planning to cut back due to the skittish market and softening economy…He said staff reductions will likely affect all levels—even those with years of experience and expensive MBA degrees. “I […]

    / Jul 21, 2011 at 5:02 PM
  • News

    Prostitutes In Canada Are Making $15,000/Week Because Of Rising Oil Prices

    The province’s tar sands cover an area larger than the United Kingdom and contain most of the world’s supply of bitumen, a particularly sticky form of petroleum that must be heated or diluted before it can be pumped. Because it’s so unwieldy, it’s only been in recent years that large-scale development of the tar sands […]

    / Jun 27, 2011 at 4:42 PM
  • News, Opening Bell

    Opening Bell: 06.16.11

    Uncertainty Over Greece Weighs on Financial Markets (NYT) Financial markets remained jittery Thursday amid concerns about the stability of the government in Athens, uncertainty over the fate of a second Greek bailout and suggestions by Ireland that it would require investors to pay for part of the bailout of its indebted financial institutions. Paulson Funds […]

    / Jun 16, 2011 at 7:50 AM
  • News

    Anyone Want To Buy The Royal Bank Of Canada?

    Specifically its not so hot US-based RBC Bank unit? Because the Canadians want to get rid of this thing and fast.

    / Apr 7, 2011 at 1:24 PM
  • News

    Canadian Pigeon Ponzi Scheme Leaves One Wanting More And Also Less

    Say what you will about Canada but their Ponzi scheming set is willing to tread where its more southern counterparts have not. Yeah, we have big number schemes but no one really thinks outside the box. Like pigeon-farming scams. Have we ever had one of those? No, we just feed the damn things rather than […]

    / Dec 3, 2010 at 9:42 AM
  • News

    Toronto Financial Services Employees Responses To G-20 Threat Range From Pants-Pissingly Terrified To Defensive To Whatevs

    The G-20 has come to Toronto! And with it, the threat of potentially angry protesters! Guess what though? The Canadians aren’t scared. Not at all, actually. They’re not gonna be pushed around and in fact, if you must know, they’ve got a plan, for how they’re gonna deal with these bullies. Several in fact. The […]

    / Jun 25, 2010 at 1:34 PM
  • News

    (UPDATE) RBC Capital Markets Comments Taken Out Of Context Regarding President Obama

    Update: We’ve spoken with several other conference participants who tell us the slide wasn’t meant to demonstrate how RBC sees President Obama but rather reflect sellers‘ current thoughts on the fear of the White House raising long term capital gains taxes. RBC said in a statement: “This [slide] is not representative of RBC’s viewpoint. We […]

    / Jun 15, 2010 at 6:00 PM
  • News

    Oh, Canada.

    Heartiest congratulations, Canada. Your recession is finally over. The economic growth that pulled you out of the pit of despair in the third quarter wasn’t all it could be. But, as those of us not named “China” have learned, exiting a recession isn’t all it’s cracked up to be. Canada edges out of recession in […]

    / Nov 30, 2009 at 10:39 AM
  • News

    Bove Upgrades Lehman To Buy, Hostile Takeover “Possible”

    Potential buyers apparently include: “A bank in Canada, Great Britain or Japan.” Bove’s reason for upgrading the stock was not tied to better performance, or rumors of Einhorny joining the board, but, he said, management’s unwillingness to sell out for a ten-spot and a bag of Cheetos. At this juncture, the higher-ups at Lehman are […]

    / Aug 21, 2008 at 1:52 PM
  • News

    Canadian Regulators Care About How Canadians Get Their Wood

    We’re no fans of protectionism — least of all, regulation coming out of the People’s Republic of Canada. However, with Stephen Harper at the helm, things have gotten better for our mildly dull, if not downright slow, neighbors to the north. Case in point: The National Post reports today that the Canadian Radio-television and Telecommunications […]

    / Aug 15, 2008 at 10:33 AM

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