Thursday, August 20, 2009
Dan Amos – who called the crash of Lehman and other giants beforehand – says that a major bank is lying about its ability to pay shareholder dividends, has been gaming its books, and is about to crash.
Amos doesn’t say which bank he’s talking about, but gives the following hint:
[It has] a 192 year old history and 37,000 employees . . .
A quick Google search reveals that this can only be the Bank of Montreal, also known as BMO Financial Group.
Stock Gum Shoe – a website devoted to guessing at the companies hinted at in stock tips – confirms that Amos was talking about Bank of Montreal.
This is newsworthy because the Canadian banks have widely been seen as the world’s safest and most stable banks. Indeed, the Bank of Montreal was listed as the 33rd safest bank in the world by Global Finance (see page 2).
Amos says that the Bank of Montreal won’t be able to pay the promised $1.5 billion dividend scheduled later this year, which will precipitate a crash in BMO’s stock by December.
Note: I am not an investment advisor and this should not be taken as investment advice.
This article was posted: Thursday, August 20, 2009 at 3:53 am