It increasingly feels like Canada's greatest companies are losing their footing and being sold off. - Research in Motion (RIM, maker of Blackberry phone) - Megabloks sold to Mattel and now Canadian ops are being shut down - Now Bombardier's train divhttps://www.wsj.com/articles/alstom-reaches-preliminary-deal-to-buy-bombardier-train-unit-11581872405?mod=e2tw …
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Shopify is a counterexample but, while it's stock price is super high, it's not actually making that much money. Here are Canada's largest public companies by total profit: https://en.wikipedia.org/wiki/List_of_largest_public_companies_in_Canada_by_profit … 1. Finance 2. Finance 3. Finance 4. Finance 5. Natural resources 6. Financepic.twitter.com/spXAw4RcLz
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Replying to @Molson_Hart
One distinction is the concentration of financial services. There are thousands, maybe still tens of thousands of US Banks. I’m pretty sure those 5 are basically the entire Canadian financial system
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Replying to @davidgshort
Depends on how you classify but I don't think that's right. 13, 17, 19, 20, 21 all seem to be financial companies.pic.twitter.com/Rdaq1B9TXy
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Replying to @Molson_Hart
83% as of 2017, vs 46% for top 5 US Bankspic.twitter.com/tSKbgZAfre
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Replying to @davidgshort
Double wow. 1. that's high concentration (then again, they have about as many people as california i think) 2. Why is the us fed keepign that stat?
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Replying to @Molson_Hart
Most of the world actually has very concentrated banking, the US is the outlier, and it’s because of our legal structure. It was illegal to bank across state lines for much of US history. The real national banks didn’t come about until the 80s
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Wow, cool. USA is #151!https://www.theglobaleconomy.com/rankings/banking_system_concentration/ …
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