Lowering risk on Canadian Banks

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.

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