CIBC tse/cm Message Board

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Gold/Mining/Energy : CIBC tse/cm

CM 86.85

+0.3%

10:28 AM EST

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To: Montana Wildhack who wrote (122)	5/2/1999 11:17:00 PM
From: Method	Read Replies (1) of 147

Well CM's quarter just ended on Friday and I think this quarter will be a blockbuster for CM. Why? All the big US investment banks blew away earnings expectations for the quarter ended 3/99. This bodes well for Oppenheimer. Further, their GBLX holding closed the quarter about double its price at the end of the first quarter. Question? Does anyone know the accounting treatment for the GBLX investment. Is it marked-to-market or held at cost. This could play a significant factor in the earnings. My guess is that it is held at cost since we didn't hear anything about it at the end of the first quarter. However, with CM's current intent to sell it may be marked-to-market at the end of this quarter which would lead to an incredible unrealized gain and therefore earnings for the bank! Can't wait for earnings to come out!

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