The Successful Investor, in its September, 2014, issue, refreshes its buy of Bank of Nova Scotia, recently $72. The Investor said buy 27 times from March, 1996, to August, 2014, at prices ranging from $30 to $73 (the stock split 2 for 1 on Feb. 10, 1998, and again on April 2, 2004). Assuming an investment of $1,000 for each of the 27 buys, the $27,000 position would now be worth $66,312. The bank has completed the sale of most of its shares in mutual fund company CI Financial Corp. Scotiabank's holdings in CI has decreased to 7.7 per cent from 36.8 per cent. It now expects to realize an after-tax gain of $550-million on the sale, up from its earlier estimate of $400-million. The proceeds should help the bank with its plan to buy back 1 per cent of its outstanding shares by the end of May, 2015. Elsewhere in the newsletter, the Investor mentions a bail-in model proposed by Ottawa. If a bank becomes insolvent, it will have to convert some of its debt into new shares. Failure in any of Canada's big five banks is extremely unlikely, but removing Ottawa's implicit guarantee would add to their risk. Still, the banks make great investments. Scotiabank continues to be a buy.