National Bank of Canada: A Good Bank at a Demanding PriceRead More »
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National Bank of Canada: A Good Bank at a Demanding Price
Views: 234 2026-01-07 National Bank of Canada is a well run, regionally concentrated universal bank with strong franchise economics in Quebec, solid capital discipline, and dependable profitability across cycles. It is not a fast grower, nor a fragile institution. At the right price, it is an excellent long term compounder of moderate returns. At the current price of 172.70 CAD, however, expectations already discount a benign economic path. For investors targeting nine percent annual returns over long horizons, patience is required. Investment Goal: My goal is to earn an average of at least 9% per year over 16 years, i.e. …
