Last year, my bank lost $150,000 of my money. Its automated systems didn’t register a four-for-one stock split in my investment account and inadvertently vaporized a six-figure amount. I spent a couple of weeks making increasingly frantic calls before the money reappeared.
I mention this because many people seem to believe Canadian banks are superbly managed world-beaters. I disagree. To my eye, they’re glitch-prone institutions that face a growing number of issues. If you’re counting on them to produce big returns over the decade ahead, I urge you to think again.Report Typo/Error