Bank of Montreal (BMO.TO) has had a very good run lately. I purchased the stock on 4th September 2012 at $57; it closed today at $64.53 (up 13.2% in less than five months). There have been rumblings about the health of Canadian banks and today Moddy’s donwgraded six Canadian banks. It’s time to take some profits so I asked my Financial Adviser to sell 25% of my position.
- Sell BMO.TO @ $64.50
There was a problem though. My Financial Adviser sold 100% of my position! This has happened before.