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Again, let's try to keep past performance and your bias toward one person or the other out of it. Based on the arguments in each respective article, and based on <b>this call only</b>, who will be correct?

Did you not read the CIBC and BMO Q3 earnings reports? See this article: http://ca.news.finance.yahoo.com/s/26082009/2/biz-finance-cibc-reports-third-quarter-profit-434-million-misses.html "CIBC's quarterly financial performance was dragged down by $106 million in mark-to-market losses...

This is the latest article from Kass posted today on TheStreet.com with him calling the top: http://www.thestreet.com/story/10590765/1/kass-market-has-likely-topped.html Normally I don't pay any attention to media types calling bottoms or tops, but decided to read this due to Kass'...

Congrats on your ability to afford a vacation home. Please do post (maybe even a pic) when you make the purchase.

Mark to market has always been employed in Canada. It was never repealed. FASB governs accounting policy in the USA only, so the FASB re-enacting M2M will not affect Canadian banks whatsoever. As for CIBC being the worst bank in Canada, this point is debatable. But for arguments sake...

+1 I can understand the illiquid market aspect of not wanting to report losses due to abnormal conditions, but I think they need to bite the bullet on this one for the sake of transparency and comparitability.

This reminds me of a quote I read on here not too long ago which holds true. If you owe the bank a little, you are at their mercy. If you owe the bank a lot, they are at your mercy.

Gorgeous area. When are you thinking of purchasing? Many are predicting the CAD to be equal to USD come the end of the year, which would make it more expensive to wait. On the other hand, it could go the other way and be cheaper. Just something to think about.

Regarding the percentage of profitable traders, I think the data may be skewed or misleading. Consider the following circumstance: Joe Blow, fresh off of a big run at the roulette table, opens a trading account and deposits his $25,000. Within x amount of time, Joe Blow (the gambler that...

Ah. My mistake. My thoughts on the Canadian economy: Positives 1. Strong financial system is the key to the entire strength of the economy. See Q3 earnings from BMO and CIBC, increased profits over last year and decreasing provisions for loan losses. Banks are just that, BANKS, not...

Hilarious comment. I picture you standing there doing the "jack off" motion while saying this LOL

It does make for interesting conversation though, doesn't it? Just imagine the chaos that would ensue LOL Somebody really should write a book or a movie about the USA annexing Canada and the events that could take place afterwards. I think it would be rather interesting.

I've never heard S2007S comment on Canada's economy, but it's probably a safe bet that he thinks it's shit.

It must be rather nerve racking to live your life as if you are on the brink of financial armageddon LOL

I'm sure the government would be happy to establish an "independent" agency.

Tell me, are you as negative with everything in your life as you are with the economy? USA economy is shit, China's economy is shit, EU economy.....you guessed it, shit. Surely there must be some place you are putting your money, let us in on the secret!

I understand the need to temper EXPECTATIONS about the economic situation (political reasons etc.), but why would the government temper ACTUAL economic activity?

There are certainly problems with the M2M concept that need to be addressed. As per Canadian GAAP, investments are classified under one of three categories: 1. Held-for-trading (held for less than a year) 2. Available-for-sale (intend on holding but have the option to sell if desired)...

Suspending M2M was complete bullshit for sure. They basically are saying M2M is a great idea when values are increasing, but if they plummet, suddenly M2M doesn't work... The valuation needs to be consistent, one way or the other, for comparison purposes. How do you compare this year to...

Great advice.