HSBC is mentioned as an international bank that, along with other global banks, is experiencing a run not seen since the 1990s.
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Buying Canadian Bank Stocks Now | The Mortgage Crisis That Never Happened
Jul 16, 2026
The creator discusses the strong performance of Canadian bank stocks, particularly through the VDY ETF, noting significant capital growth and outperformance compared to the S&P 500. Despite recent vertical gains and historically high valuations (like Royal Bank trading near a 20 PE), the creator suggests that the market's fears about a mortgage crisis and housing market collapse in Canada did not materialize, leading to a super cycle in bank earnings. The creator also touches on the current high interest rate environment, which is unusual for the sector.
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JP Morgan's chart performance is noted as not dissimilar to the recent surge seen in Canadian banks.
Royal Bank, the largest position in VDY, has seen a recent vertical surge of 63% after a period of stagnation since 2008, but is now trading at a stretched valuation near a 20 PE with historically low yields.
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