Q: I am needing to raise some cash and decided to trim my financials. I hold GSY (4.2%), V (5.6%), BNS (3.66%) , TD (3.65%), PRL(3.57%) and RY (2.51%) Total 23.19% My first thought is to eliminate BNS or TD. Alternatively I could eliminate both as I sense I am overweight financials with this basket. Given this mix which Bank would you lean towards eliminating, BNS or TD? Would you be comfortable letting them both go?
5i Research Answer:
A tough call but we would let BNS go. We cannot get personal but we would consider the dividends, size and safety of banks vs some of the smaller companies owned. We would be less interested in selling both and leaving only one bank.