S.C.

I agree that the big 5 are worth more than 1.2 times book.  I own all but BMO. At some point I plan to own it as well. 

At these valuations though I prefer to hold.  But I disagree with Cat on many things. I don't believe higher interest rates will hurt Canadian banks. 

I just am not a fan of buybacks. I would rather see the capital returned to shareholders or used to grow the business. 

I am not planning to sell any of my bank holdings, I was 4/4 for dividend increases this quarter.  That is why I own them.