Investor Presentaiton
Typical Investor Verbatim
Negative Momentum Verbatim
"National Bank's reporting can be opaque in some areas."
"National Bank's IR is a nice lady who tries to help but knows nothing about banking. You can't ask her a
single question; she always has to go back to someone else. I have a carrier pigeon carrying messages from one
person to another."
"The credit provision is going to be normalized, which means that for the next few quarters, the banks will
have to readjust their operating leverage and incur some charges. This will make the next few months tough for
the banks. However, the next 12 months could be a good time to buy bank stocks as things are expected to
worsen."
BRENDAN WOOD INTERNATIONAL / FIRST INTELLIGENCE
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