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Standard & Poor looked favourably on what it called Canadian banks'
"hidden reserves."

I agree with Standard and Poor, if we can sell the real estate and our interest in Global Crossing we will have the capital to grow the bank from within. However, with the restrictions that were placed on the Global Crossing shares, I don't see how management will be able to get at this source of cash, short of a take over of Global Crossing.

The Kinross Deal

Did you see November 11th National Post? It seems that we, actual CIBC World Markets, lost our shirts on a bought deal involving $356 million in shares of Kinross Gold Corporation. The only constatation is that we were not alone, Merrill Lynch Canada and TD Securities were in the syndicate with us.

A Good Week

The markets seem to have dismissed the Kinross Deal and we have make some good gains. I hope it keeps up.

Fool on, eh!

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