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Of the big banks in Canada (and there are only a handful of them), CIBC is by far the one that got hammered the most recently, considering their dismal performance with their Oppenheimer unit. This stock is probably going to be the best performing Canadian stock in 1999, especially if CIBC Oppenheimer can turn a profit.

With the loonie sitting at $0.67 currently, any depreciation will benefit US investors as well. The loonie should be around $0.64 to $0.65 by the end of the year, so a US investor can pick up 3-4% on the currency gain alone.

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