AI and Money

 

Canada burns and parts of the US are coughing from the smoke drifting down south. This has to be the worst for fires across the land with many out of control that I can remember ... from east to west coast. And ... it's only June while heart breaking for people that have lost homes and businesses.

With more bad news ... Bank of Canada is back at hiking interest rates to curb inflation which isn't happening. Meanwhile Banks are ready for loan and mortgage defaults, making people's lives more miserable and stress filled, as interest rates climb.

AI or Artificial Intelligence along with Machine Learning is the talk these days while some developers and experts in the field say "shut it down" knowing what the worst case scenario in the future could be ... going beyond human control. Reminds me of the movies and books based on that subject.

But ... it's all about the money for Tech companies developing it and businesses will use it to save money like cut jobs. Military uses are endless as long as it doesn't get out of control. Humans will think less ... it's like futuristic upgrade of Google search and applications.

Looking at the last half of June, 2023 ... Banks and financials are on my list to further buy like CIBC (CM) with a dividend yield of 6%. 

Power Corporation of Canada or POW also has a yield of 6%, remembering the percentage moves with stock price fluctuations. POW is a financial outfit and has several companies under it like Great-West Life to fintechs such as Wealthsimple.

Looking at the dividend calendar (filtering Canada) to June 30th ... there are too many stocks to mention here that I have a further interest in and some I will add to my Watchlist to further dig into to see if they are a decent fit or not, while seeking long term holdings.

In the Crypto scene, Bitcoin (BTC) and Ether (ETH) haven't moved much in their price ranges although there are spikes. A lot going on in the US while the Fed's SEC continues to go after exchanges like Coinbase. Coinbase could just throw in the towel and pay the huge penalty fines and comply which they have done in the past but their legal teams are fighting these current charges for now.

It's calm in Canada as long as outfits that set up shop here register and comply with the crypto rules and regulations of the land. 

Bank Earnings and Dividends for May, 2023

Ending May 2023 and with the twist and turns of the stock market, many are saying Canadian Banks are more into a "buy" territory as their stock prices are lower while reporting dividend increases. One I'm waiting on is TD with no word on an increase yet.

From: My Own Advisor blog

On dividends, on a slightly brighter note, Canadian big bank earnings were reported this week and here is a recap of various dividend hikes from this sector including our portfolio raises:

• Bank of Montreal declared a $1.47/share quarterly dividend; 2.8% increase from prior dividend of $1.43.
• Bank of Nova Scotia declared a $1.06/share quarterly dividend; 2.9% increase from prior dividend of $1.03.
• Royal Bank of Canada declared a $1.35/share quarterly dividend; 2.3% increase from prior dividend of $1.32.
• Canadian Imperial Bank declared a $0.87/share quarterly dividend; 2.4% increase from prior dividend of $0.85.

I buy on a dollar cost averaging pace from month to month, regardless.

Going along with the experienced in the ways of the stock market, Benjamin Graham and Warren Buffet preach, buy low and sell high. 

Can't time the markets but keeping informed ... one can see Banks are off their past highs and shuffled millions for expected defaults on loans with these days of high interest and other factors.

It's tourist season on the east coast of Canada while cruise ships come and go at a steady pace from the huge with 3000 to 4000 cruise goers to the small carrying about 250 passengers.

After their daily tours, while the ships restock/clean for the next leg of their journeys, a popular song can be heard ...

Finishing up for today, the price of oil hangs around $70 USD these days, off the $100+ this time last year. Oil related stocks are usually second on my list to buy knowing the big cash hauls they made with oil at $100 USD and over has tapered off.  Some managements have stock piled all that extra cash while others blew it as fast as it came in. 

Pipelines ... the "go between" companies for long contract oil producers to move their product to storage/market are my choice. Pembina Pipelines (PPL) and Enbridge (ENB) come to mind. It's always wise to read over companies stock information, news that comes up about them if owned and consider the risk over the short term. Not so much going long term.