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Mortgage Broker News | 24 Mar 2015, 11:03 AM Agree 0
He got under the skin of many brokers with his prediction of a housing crash, but wait until you hear the advice this leading financial advisor is offering the big banks about their mortgage businesses.
  • Mortgage Guy Geoff | 24 Mar 2015, 12:01 PM Agree 0
    Once again this guy is promoting a thinly vailed self-serving opinion that we are supposed to believe is expert and I guess impartial? He seems to be suggesting that banks should focus more on the mortgage and loan business and less on the brokerage business, a business in which he competes. Interesting....

    To state the obvious....consider the source and what their self-interest is likely to be before deciding whether their opinion makes sense.
  • HILBOJ2 | 24 Mar 2015, 02:37 PM Agree 0
    95% of bank net income/profits is not sourced from Secured Lending or even CC. He's not even close.
    Having a correct understanding of bank balance sheets and income statements, he would arrive at a different ratio. I recommend he follow his colleague's lead and obtain a CFA. Then he would understand the importance of correct data when deriving predictions.
    As a portfolio manager I would also like to hear disclosures re: his his personal or corp short positions with REIT ETFs. Surely if he predicts 50% decline in Canadian real estate he's putting his money, and his client's, where his mouth is.
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