VPI Canadian Equity Pool Newsletter

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VPI Canadian Equity Pool Newsletter – July

What You Own –  RBC – One of the world’s most profitable businesses

What You Don’t Own – Deutsche Bank – Not a bank you should own

CIBC – Grew earnings 37% over past 5 years and it could get a lot better

–     Opportunity to continue increasing the loan book

–     Opportunity for higher net interest margins

–     Opportunity to lower expenses