# What are you buying? 2020



## londoncalling

As per the What are you buying 2019:

https://www.canadianmoneyforum.com/showthread.php/136542-What-Are-You-Buying-2019/page18


My order for BPY.UN was filled today at 23.60 ended the day at 23.44. This is my first addition from the Brookfield family. Have now placated my REIT replacement.

Cheers


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## londoncalling

Perhaps one of the mods could make this thread a sticky as has been done in years prior. Thnaks


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## moderator2

Happy New Year, everyone! This thread is now sticky.


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## londoncalling

Thanks. All the best in pursuits of love, health and wealth to all in 2020. Happy Investing!


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## agent99

Once funds are in TFSAs, will probably buy 300ZRE in one and 500 XRE in another. 

Only REIT I have is Riocan. Long held and in a taxable account with a big CG. So it stays there.

I do have bonds & debentures issued by RE companies. Bought those instead of the equity when yields were not too much different. Less chance of losses and fixed maturity is nice. I would buy more if I could find them.


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## Mechanic

Bought some TD


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## Benting

Add TD to my one stock TFSA

Also RY - long term
Also BCE - ???


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## Gator13

Purchased Royal Dutch Shell (RDS.B) in a RRSP account. Purchased and held in $US


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## fstamand

Also bumped my TD shares, bought BCE on the dip for a quick flip


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## lonewolf :)

purchased GBTC to play bitcoin on the long side. High risk lotto ticket trade


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## gardner

Topped up my TFSA and bought more VDY, ZDV and ZAG. Looks like markets are basically at all time highs, so not a terrific buying day, but the TFSA money was itching to be deployed.


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## naysmitj

My speculative investment for 2020 is (CVE: XBC) Xebec Adsorption Inc. Profitable small cap in an extremely fast growing market with a huge backlog of orders.

https://stockchase.com/company/view/5736/XBC-X


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## DigginDoc

Added TD in one tfsa and MAW104 in both the other day. Long term.


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## Speculator

I bought TRQ, WEF and STLC. Documented here;
https://thestockmarketspeculator.blogspot.com/2020/01/3-down-and-out-stocks.html


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## Speculator

I have very little U.S.exposure except for a small position in Costco. Bought MSFT, AAPL, FB and the BMO US Equal Weight Bank ETF - ZBK.TO
I don't usually buy at highs but this market is now making a new high every day. I don't see a crash before the election. More of my scattered reasoning documented here;
https://thestockmarketspeculator.blogspot.com/2020/01/im-still-buying-because-stocks-are.html


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## james4beach

Recent equity performance has left my allocations a bit off, so I recently bought more XBB to get back to asset allocation targets.

I also plan to buy more GICs.


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## Dilbert

This month I picked up more IPL in my TFSA. In my non registered USD account, I bought BPY, AQN and AHOTF.


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## AltaRed

Back on Jan 2nd, bought my annual contribution allotment of MAW104 in each of my TFSA and RESP. Nothing more to do until Jan 4, 2021.

Well, not quite true. I have a maturing GIC and a bond to deal with in my RRSP later this year. It has a total of 10 holdings.


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## Speculator

Oil stocks - dividend payers WCP, ARX, TOG
No dividends - BTE, AOI
Camp/Service stocks - TCW, BDI
I like oil stocks for trading positions only.
https://thestockmarketspeculator.blogspot.com/2020/01/should-we-be-buying-oil-stocks.html


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## Mechanic

Bought some Ford shares in my unreg account. Ex div 29th


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## gardner

Added to TRP, SU, IPL. TRP seems over-bought, but I am underweight on pipelines, so I added some anyway. I have not added SU since before the COS swap.


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## james4beach

Bought a 3 year Concentra GIC at 2.23% mainly to fill a hole in my ladder. But I also think this is an attractive rate, as bond market yields are rapidly falling and I suspect GIC (and cash) rates will decline as well, soon.


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## Butter

james4beach said:


> Bought a 3 year Concentra GIC at 2.23% mainly to fill a hole in my ladder. But I also think this is an attractive rate, as bond market yields are rapidly falling and I suspect GIC (and cash) rates will decline as well, soon.


https://www.peoplestrust.com/en/peoples-trust/high-interest-accounts/rates/

Better rates

There's also likely some HISA with higher rates... why lock it in?


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## peterk

Mechanic said:


> Bought some Ford shares in my unreg account. Ex div 29th


Ohh how much money have I pissed away on Ford stock... we'll never know.. Welcome to the club :nevreness:


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## AltaRed

Many of us won't go chasing rates. Been there, done that. We make decisions to give up some yield to concentrate our accounts to 1-2 financial institutions.


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## james4beach

Butter said:


> There's also likely some HISA with higher rates... why lock it in?


You're asking why I didn't just go to a higher interest rate HISA instead of buying this 3 year GIC? 

The answer is that the GIC purchase was to fill in the "fixed income" part of my asset allocation. I had to buy bonds/GICs, part of the asset allocation methodology. Cash is not bonds/GICs.

In particular, I have a GIC ladder that has to stay filled in, so that a GIC matures every 6 months or so. No matter how low, or how high, interest rates are, I will buy GICs to keep this ladder filled in.

The reason I don't strategically jump between HISA and GICs/bonds is that this is "timing the bond market". It is generally very difficult to do successfully over the long term because you never know what the future might bring.

Passive investing techniques like 'couch potato' and simple asset allocation are all based on the idea that you're better off not trying to time, or outguess the market. And you *must* stick to your asset allocation targets. This actually makes investing much easier as well. You stop second guessing every single action.


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## Mechanic

peterk said:


> Ohh how much money have I pissed away on Ford stock... we'll never know.. Welcome to the club :nevreness:


I don't know what it is about this stock but I have bought it a few times in the past too. I usually make a bit on it but always think it will do well at some point ? I'm not even a big fan of their vehicles, although I do have an old Mustang restoration in slow progress. Last time I got it at 9.60, this time 9.16. I guess I'll collect the 0.15 dividend next week and see where it goes from there.


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## agent99

When I owned a couple of Fords, the Mechanics sure made money


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## doctrine

My Jan buy was BCE at $60.90. Anytime BCE is a yield north of 5% is pretty good and I got it around 5.2%.


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## Mechanic

agent99 said:


> When I owned a couple of Fords, the Mechanics sure made money


When I owned a repair shop, the early EEC IV Ford's gave us the biggest headaches and cost us the most in un-billable hours


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## Eder

Added a bit more to a growing position in Gildan Active Wear ....great company but I admit they should do a bit better as they use only US cotton, spin their yarn in the USA, make the textiles in the Dominican & Honduras, they dont do the sweat shop thing or use China. 

They are a Quebec headquartered firm so should benefit from treatment like SNC & Bombardier if required.

I wear their t shirts and like them...I think in today's emphasis on ethical employers Gildan is doing a better job than Apple and others exploiting China and their rewarding the abuse of human rights etc.. (Plus I think I will make out like a bandit long term).


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## AltaRed

Don't know if I have ever worn one, but maybe. I prefer collared versions.


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## Eder

I don't think a collar will make me better looking.


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## 1980z28

Did buy
1000 shares of BPY.UN
800 shares of TD
1400 Shares of CAR.UN
500 shares of ENB , TRP and IPL
500 shares of VET and WCP
2000 shares of SPB and AQN

I did start to sell some of my winners at end of year just to take some profits,so when the bad news virus was here for a couple of down days i started to buy,2019 was a very good year for dividend stock and looks like another good year at hand,,,will still add to TD and BNS going forward


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## peterk

Added to TECK, SPY, XOM in the last 2 days.


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## gardner

Added to BPY-UN and NVU-UN. I still have a ways to go to get to my intended allocation of REITs. Next to add down the line will be REI-UN, I think.


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## Borat

Started a position in TECK too early.


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## gardner

Added to my MG holdings


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## 1980z28

500 shares of SU to start position


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## DigginDoc

Added 100 Bce and added to my GIC ladder also for the legacy.


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## londoncalling

Added to Western Forest Products today at $1.29. Reasons for purchase can be further explored here. https://www.canadianmoneyforum.com/showthread.php/16529-Western-Forest-Products-(WEF)/page7


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## junior minor

well, I don't mean to sound cynical or cyclical... just _not_ buying the made-in-china cell phone stock( partly because it's not possible and also for security reasons) Here are, respectively, articles that are 6&1 (days) young 
[url]https://business.financialpost.com/technology/military-wants-huawei-banned-from-5g-in-canada-report[/URL]
https://www.theguardian.pe.ca/busin...nd-5g-alternatives-to-huawei-minister-407080/
This one was released two hours ago 
https://www.wsj.com/articles/u-s-of...-covertly-access-telecom-networks-11581452256

What I am looking into though, and found while researching on alternatives to this commie conglomerate




https://www.airgain.com/about/ _AIRG _ is the ticker
The stock is decently priced was worth thrice its actual price a few years back. Interesting purchase


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## lonewolf :)

Have been buying ETC, ETHE, GBTC since around Jan 7th they are all crypto ETNs. Based solely on price pattern. Price action in bitcoin seams to have formed a parabol & based on a dominate cycle hard to believe looks like Bitcoin will be @ 150,000 in April of 2030


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## 1980z28

started RWN 2000 shares on friday also 500 ENB


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## AltaRed

Commercial solicitation = SPAM


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## Mechanic

Bought a little Telus for the TFSA's. Bought a little VIX in the unreg and then sold it.


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## agent99

As a defensive move vs possible recession, have added to split pfds using cash from sale of some of ipl and others where I took some profit.


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## Fisherman30

peterk said:


> Added to TECK, SPY, XOM in the last 2 days.


Hi Peter,

Just wondering what your strategy is with Teck.

Cheers


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## londoncalling

Topped up my position in TD bank @ $71.25 In my TFSA. TD is now my second largest holding. Last year at this time I didn't hold any TD. May be a bit soon to the party but cash was growing and I was able to buy at a lower price than my initial buy. Hope to initiate a position in either CP or CN if the slide continues.

added. Price may have been down today but they also just announced a dividend increase. Will have to review the quarterly statement but I am confident today's price move was market wide.


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## gardner

added to MFC, CNR and REI.UN
also added to XIC and ZAG in the RRSP
all scheduled cash deployments


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## james4beach

Recently bought a 5 year GIC @ 1.90% but that's it. Reviewed my plans and cannot justify buying anything else; maybe if stocks fall more I will.


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## gardner

james4beach said:


> Recently bought a 5 year GIC @ 1.90% but that's it.


I have a US$ GIC at Tangerine coming up. They still pay 2.10% and if that is still on offer when the old one matures, I will go back in for sure.



> Reviewed my plans and cannot justify buying anything else; maybe if stocks fall more I will.


I thought we didn't like timing the market. I've been frightened about executing scheduled buys as the market had been inexorably inflating. The current drawback has me feeling slightly better about executing the buys on schedule.


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## james4beach

When I have new cash to invest, I've got to invest it somewhere. It's not market timing to figure out where it should be deployed _according to existing plans_. By cannot justify buying, I meant that my asset allocation dictated that I may not buy stocks. It's a robotic plan.

Market timing would be keeping the cash on the sidelines, deliberately waiting for an "opportunity". Or making a judgement call based on how I feel. I didn't do either of those things.

Tangerine rates are showing 5 year @ 2.20% which is very competitive, certainly better than what I can find through my brokerage.


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## james4beach

gardner said:


> I thought we didn't like timing the market. I've been frightened about executing scheduled buys as the market had been inexorably inflating. The current drawback has me feeling slightly better about executing the buys on schedule.


I can't edit posts. Regarding buying later "maybe if stocks fall more", the buying would occur under two circumstances:

(1) if we get to year end and it's time for my annual rebalancing, or
(2) if I have new cash to invest and my asset allocation says I'm underweight stocks

In other words, "buy low" would be _automatically_ achieved through robotic asset allocation. Currently I am not underweight stocks, so there is simply no justification to buy stocks.


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## agent99

james4beach said:


> It's a robotic plan.


Why don't you sign up for one of these, and then get on with life?

https://www.wealthsimple.com/en-ca/learn/best-robo-advisor


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## james4beach

agent99 said:


> Why don't you sign up for one of these, and then get on with life?
> 
> https://www.wealthsimple.com/en-ca/learn/best-robo-advisor


Very little track record and history, no reason to outsource what I can do myself. I like a more hands-on approach, as you do! I don't just index.


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## londoncalling

took a nibble at BNS today at 50.29. Will look at RY next week. No clue where the bottom is with the current situation but I know the price I paid today is somewhat less than what it was in 2019.


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## 1980z28

I will DCA back in on the stocks i do own


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## 1980z28

londoncalling said:


> took a nibble at BNS today at 50.29. Will look at RY next week. No clue where the bottom is with the current situation but I know the price I paid today is somewhat less than what it was in 2019.


Nice,,,


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## londoncalling

End of day Friday that did look like a brilliant move but only time will tell. It wasn't a substantial amount (about 1.25% of equity portfolio). I am sure things could continue to bounce around for awhile so I am not breaking out the champagne yet. I also am trying to balance the emotional desire to deploy all my cash with the other emotional desire to wait till there is a bottom. I have no clue if/when we will see the bottom I just know I have cash ready to deploy. In times like this people seem to let emotion over ride their decision making. I am trying to grab a few(quality) falling knives. Looks like Monday will see more excitement. Comfort level with the current market action should be dependent on what stage of life (accumulation vs. withdrawal) one is in or approaching. Times like this test everybody's willpower and self control.


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## agent99

Put in a stink bid for Toilet Paper. But no takers so far


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## 1980z28

londoncalling said:


> I also am trying to balance the emotional desire to deploy all my cash with the other emotional desire to wait till there is a bottom. .


I am in same boat
Will start to DCA


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## jargey3000

agent99 said:


> Put in a stink bid for Toilet Paper. But no takers so far


..you want stinky TP??? i can help you with that...PM me...


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## gardner

I bought a short term GIC -- moved most of my EQBank cash into their 2.45% 3-month GIC. Will revisit in June when I am managing my Oaken GIC ladder.


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## :) lonewolf

This morning sold 161,000 US dollars worth of SPX puts. Maybe jumped the gun selling them though lived to play another day


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## londoncalling

I decided today was a good time to consolidate my position in Telus by selling the shares held in my RRSP and rebuying to add to the position in my TFSA. Fees aside I made a difference of a penny per share on the trade. The purpose of the move was primarily housekeeping but also to free up Cash and room in my RRSP for US equities. The problem I now face is the huge spread in currency exchange. Now is likely not a good time to use C$ for US equities.


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## PabloPenguino

I was thinking the same thing re: the spread. I want to buy some BRK-B and IVV in my RRSP but have to convert $CAD to $USD first. Will use Norbert's Gambit to convert the currency. I think the buying opportunities in some of the US stocks outweigh the spread though.


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## james4beach

You really want to buy BRK.B which is heavily reliant on an 89 year old and his 96 year old partner (Munger) in the middle of an outbreak which disproportionately kills people over 80?

I sold my BRK.B shares in February. I had bought them in 2007. It's a great company and has a solid future, but there is going to be some real turmoil if one of those key people dies.


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## Jimmy

I am going to wait another maybe 2 months. Markest seem to still be drifting lower though w smaller moves. Larry Berman said to wait until the VIX falls below 40. Another adviser said when the P/Bv is ~ 2 for the S&P we are at the bottom of the recession ( referring to the 2008 crash) . 

Will look at those and the situation w the virus and general recovery. It is reassuring to see places like China and S Korea have wrestled it under control. China is 70% back.


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## londoncalling

Jimmy said:


> I am going to wait another maybe 2 months. Markest seem to still be drifting lower though w smaller moves. Larry Berman said to wait until the VIX falls below 40. Another adviser said when the P/Bv is ~ 2 for the S&P we are at the bottom of the recession ( referring to the 2008 crash) .
> 
> Will look at those and the situation w the virus and general recovery. It is reassuring to see places like China and S Korea have wrestled it under control. China is 70% back.


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## like_to_retire

londoncalling said:


> .....


Totally agree.

ltr


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## londoncalling

I continued with more portfolio consolidation today by selling all my BMO shares at 57.88 in my RRSP and buying back in the TFSA at 57.84. I did increase this position by a 1/3rd as well. I understand that I could be doing better on the sale and buybacks if I was willing to wait closed a 56.24. The decision to make these changes is more about tax planning upon retirement than it is about the trade. In fact it is just luck that I have been buying at a slightly lower share price. I certainly could profit by selling on Monday and buying later in the week, but working more than full time hours these days does not give me an opportunity to watch the market in that manner. I am a bit worried that my TFSA will become heavily waited in Canadian banks. Am waiting to pull the trigger on some RRs at some point CP or CNR in TFSA and a US RR in RRSP. In reality no real significant buying has taken place for me yet.


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## Eder

Bought some more BCE rate resets...it was trick or treat...I got the treat!


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## agent99

Had in a number of buy and sell orders yesterday and today. Only one was almost fully filled today. The others all annoying partial fills or expired. Seems a lot of small investors with bids (on level 2) for just 100 shares. Too bad we can't state all or nothing any more. 

Basically selling split pfds partly to build cash reserves and partly to switch to perpetual pfds. Aiming at having about 3 years cash in HISAs/GICs to draw from to cover living expenses over and above CPP/OAS income. This assuming dividends from all sources drop to zero and we don't sell any RRIF holdings. Hopefully, a worst case scenario!

One advantage of being in isolation, is that it has given us time to clean house (In both senses!) Portfolio already looking better. House, not so much


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## Longtimeago

I've just bought some wine in the USA that came to market from the cellar of a prominent NYC restaurant who I guess needed the cash right now. It will remain warehoused(minimal cost) in NYC until people are spending again. Even if I can only sell at the pre-virus price 2 years from now, I should realize a 40% profit on the purchase price. Not bad for a 2 year investment in my opinion.

I only dabble in wines but have an acquaintance who has made a living buying and selling vintage wines for many years. I don't think he has had a 'real job' since he was in his 30s. It never fails to amaze me how so many people who consider themselves 'investors' don't realize that the stock market is not the only way to invest money.

As for the affect of Covid19 on wine prices, read here.




__





How Does COVID-19 Affect Wine Investment?







www.rarewineinvest.com





For a more general look at investing in wine read here:








Investing in Fine Wine Is More Lucrative Than Ever


Once an exotic market, parking your assets inside expensive bottles can yield tremendous profits.




www.bloomberg.com


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## Eder

Vacuuming up a few more BCE rate reset preferreds today.


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## nobleea

Have starting buying MGM, VIAC. CAE, BMO. RDS, TECK.B, DIS over the past week.

Thinking of Magna as well.


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## Eoink15

bought pza, qsr and some cnq today. hope i made the right choice!! also looking to buy into one of the big 5 tomorrow , for a 6-12 month hold !


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## MrMatt

james4beach said:


> You really want to buy BRK.B which is heavily reliant on an 89 year old and his 96 year old partner (Munger) in the middle of an outbreak which disproportionately kills people over 80?
> 
> I sold my BRK.B shares in February. I had bought them in 2007. It's a great company and has a solid future, but there is going to be some real turmoil if one of those key people dies.


The rest of the team is very very good. They've been working on a succession plan for decades.
Warren said years ago that large amounts of the portfolio are their responsibility.

Also remember they have a lot of fully owned subsidiaries that are basically independently operated. Good businesses pumping out cash.

In this environment, they've got HUGE amounts of capital, and they'll wait for the right opportunity.
Look back, how many articles were there about their oversize cash position.








Munger’s Dire Warning Makes Berkshire’s Cash Pile Terrifying


Charlie Munger's unnervingly frank prediction of "troubles coming" makes Berkshire Hathaway's $128 billion cash pile more terrifying.




www.ccn.com





They've got a hundred billion dollars and they're happy to wait for the right opportunities.


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## nobleea

Bought more RDS.B, TECK.B, VIAC, BMO, CAE. CGX.
Trying to get some SPG.


Waiting for funds to transfer for some bigger buys.


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## james4beach

I'm still not buying anything. Increased my cash reserve policy due to the potential for extended unemployment in a recession/depression. So I'm not buying or selling anything these days.


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## dave2012

james4beach said:


> I'm still not buying anything. Increased my cash reserve policy due to the potential for extended unemployment in a recession/depression. So I'm not buying or selling anything these days.


Same here. Can't believe the markets have been on a roll since March 23, up a good 25% from the bottom yet the long term news continues to look grimmer and grimmer each day. Where is the logic?


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## nobleea

dave2012 said:


> Same here. Can't believe the markets have been on a roll since March 23, up a good 25% from the bottom yet the long term news continues to look grimmer and grimmer each day. Where is the logic?


The market is looking 3-6 months down the road. The projections continue to get better, at least for the US. People can see the end, at least in N America. Politicians are being honest about the duration of lockdowns and potential deaths. That adds certainty, which is what the market likes, even if they're bad numbers.
The S&P has about 7% to go to cross back above the 200 DMA. TSX has about 13% to go yet.


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## agent99

I have bought several 1 & 2 yr GICs as well as short term corporate bonds maturing in 4 & 8 months. Tried to buy more perpetual pfds, but volume is thin and prices up along with markets in general. Not buying equities although pfds I have bid on are no doubt equity-like.


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## dave2012

nobleea said:


> The market is looking 3-6 months down the road. The projections continue to get better, at least for the US. People can see the end, at least in N America. Politicians are being honest about the duration of lockdowns and potential deaths. That adds certainty, which is what the market likes, even if they're bad numbers.
> The S&P has about 7% to go to cross back above the 200 DMA. TSX has about 13% to go yet.


I realize markets are forward looking but even the next 8 months looks grime. Everybody can't suddenly go back to work anytime in the near future and life goes on as before. As soon as people start getting back in close proximity up goes the infections again. Maybe a vaccine will be available but thats a good year out. Time will tell!


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## Eder

Sold some Rogers Communications & put the proceeds into more TD...yielding over 5% today.


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## nobleea

Bought a chunk of XBAL. As well as RDS-B, VIAC, MGM, F, CGX.


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## Ag Driver

Deleted.


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## PabloPenguino

Bought TD, RY, MFC, SLF, KMP.UN, and BIP.UN


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## Money172375

PabloPenguino said:


> Bought TD, RY, MFC, SLF, KMP.UN, and BIP.UN


have you looked at BIPC Instead of BIP.UN? Offers the dividend tax credit and less complicated tax reporting for non-reg accounts


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## PabloPenguino

Money172375 said:


> have you looked at BIPC Instead of BIP.UN? Offers the dividend tax credit and less complicated tax reporting for non-reg accounts


Yes, I hold BIP.UN in my RRSP though so it's fine. If I were to buy more in non-reg I would probably take a look at BIPC though for those reasons!


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## the_apprentice

Loaded up on TD.


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## doctrine

Buying WEF.TO. Looking at some more bank stocks too.


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## nobleea

Bought some more MGM and SPG.TO

Still have 50K of XBAL to pick up.


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## nobleea

Bought more F and BMO.

Just missed by bid price for Magna yesterday.


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## AltaRed

dave2012 said:


> I realize markets are forward looking but even the next 8 months looks grime. Everybody can't suddenly go back to work anytime in the near future and life goes on as before. As soon as people start getting back in close proximity up goes the infections again. Maybe a vaccine will be available but thats a good year out. Time will tell!


I am of the view investors don't yet understand this will be a long recovery and there will be productivity headwinds for a long time. There will be another 1-2 crashes of some substance over the course of this year, especially when quarterly results and GDP data come out. Continuing outbursts (waves) of covid-19 infections will occur, social distancing will NOT permit businesses to be as efficient (productive) as they were pre-crisis (think manufacturing lines, amazon warehouses), and some retrenchment from globalization will also decrease productivity. It is a long road ahead even if the bulk of the recently unemployed are back at work by late June, or mid-summer. A portion of the economy associated with large gatherings will NOT be functional until well into 2021. Includes entertainment, cultural events, and many sports. Not a large part of the economy, but enough to create some headwinds.


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## Parkuser

On Apr 14 sold 1/3 of Shopify at 672
Today Apr 17 sold 1/3 od Shopify at 794 - closing was 831.52.
This thing is insane. Will sell the remaining 1/3 around 900 if it goes there.
Reminds me of JDS at the fiber craze of 2000.


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## marina628

March 1 I bought in my RRSP AT&T AAPL MSFT .T is down 12% AAPL basically even and MSFT IS UP 9.55% .In non registered I added significantly to AMZN when it got to $2065 as I didnt want to miss the boat again.Before March 1 Amazon was 22% of my entire portfolio now it is 28.47%. I have been DCA Amzn every month .


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## nobleea

Bought $25K of XBAL, one more tranche to do.

Bought more TECK.B to complete purchase. More DIS to finish that one out as well.


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## PabloPenguino

Added to BEP.UN and EMA today. Looking to add to SLF, MFC, FTS, and BAM.A in the near future


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## junior minor

I know this isn't the best time but I'm thinking ''suncor & hse ''. They're not exactly dirt cheap but I'm sure that, in the long run, they will prove to be good buys. Husky oil sells to the Asian Market and Suncor still has decent dividends.
Of course right now the oil is in Negative. But that doesn't mean it won't bounce back. CFQ is also decently priced at the moment.








As crude oil drops to historic lows, chart analyst sees 90-year record for energy stocks


It was a historic day on the oil markets. Ari Wald of Oppenheimer sees a record-making move in energy stocks, too.




www.cnbc.com












Opinion: Call for more aid for the energy sector already growing as oil proves impossible to sell


U.S. benchmark crude at negative prices a sign of the catastrophic shape of the market




www.theglobeandmail.com




_articles are all over the place regarding husky energy so I won't poke the various sources. yet they point here that they had *dollar dividends* in 2003&05_




__





Dividend Payment History - Husky Energy







huskyenergy.com


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## PabloPenguino

Added to SLF and MFC today


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## agent99

PabloPenguino said:


> Added to SLF and MFC today


Buying insurance companies?? Before you put too much into those, check how they made out between 2007 and now. SLF took 11 years to recover to 2007 price and MFC never has. 
I have owned both at times, so just passing on experience.


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## PabloPenguino

Those names only make up a small % of my portfolio. I think insurance companies are facing different problems today than they were during the financial crisis. I'm not sure MFC will ever get back to 2007 levels but I do see upside buying at these levels and plan on holding / DRIPping long term. I should revisit this post in a year!


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## Eder

Most people don't post their buys as they are worried about looking foolish...thanks for posting your Pablo. And, ya, most of us that take advantage of this _*


Spoiler



depression


*_ will look like geniuses soon.


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## agent99

> . And, ya, most of us that take advantage of this _*
> 
> 
> Spoiler
> 
> 
> 
> depression
> 
> 
> *_ will look like geniuses soon.


Like that 9.00 fts reset we both own that will reset at 1.9% soon. Imagine what that will be worth once interest rates recover


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## agent99

Regarding the Fortis H series Reset:


> Fortis Inc. hereby announces that on June 1, 2020 holders of the currently outstanding Cumulative Redeemable Five-Year Fixed Rate Reset First Preference Shares, Series H of the Corporation have the right to convert all or part of their Series H Shares, on a one-for-one basis, into Cumulative Redeemable Floating Rate First Preference Shares, Series I of the Corporation and that the holders of the currently outstanding Series I Shares have the right to convert all or part of their Series I Shares, on a one-for-one basis, into Series H Shares. There are currently 7,024,846 Series H Shares and 2,975,154 Series I Shares outstanding.
> 
> 
> Subject to the conditions described below, holders of Series H Shares or Series I Shares who do not exercise their right to convert such Shares on the Conversion Date will continue to hold their Series H Shares or Series I Shares, as applicable.


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## Eder

You don't think it will be worth more as interest rates rise? I like to think that most of these issues are currently mispriced, but that's only my opinion. I enjoy grabbing a few shares 5% below ask from time to time.

At any rate its a pretty good way to 6.4% tax advantaged return in an investment account. Fortis is pretty solid debt to buy. I like the current income & like the potential for capital gains in the future, although the lack of liquidity will require patience to sell.

To each his own.


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## dubmac

Eder - what's the skinny on FTS.PR.H? 
I'm not too informed on Prefs - tried to unnerstan...but the yield calcs freaked me out.
currently fts.pr.H is around 10. do I conclude that this one will crank out 6.4% dividend for the next 5 yrs (even tho price may go up down and sideways)?


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## agent99

Eder said:


> You don't think it will be worth more as interest rates rise? I like to think that most of these issues are currently mispriced, but that's only my opinion. I enjoy grabbing a few shares 5% below ask from time to time.
> 
> At any rate its a pretty good way to 6.4% tax advantaged return in an investment account. Fortis is pretty solid debt to buy. I like the current income & like the potential for capital gains in the future, although the lack of liquidity will require patience to sell.
> 
> To each his own.


Right now, the BOC-5 rate is 0.44%. On June 1st, FTS.PR.H wil reset at 1.45+BOC-5. Right now, that will be 1.89%. THis based on $25 par . Today the shares are trading at $9.79. That means that if bought today, they would yield. 4.83%. And that would be for the next 5 years until the next reset date. If interest rates in general go up, that 4.83% will become less and less attractive. The price of the shares will then go down. This is what I expect will happen.

I paid $14.68 for my few shares (luckily, I don't have many!) After June 1st, the yield on my cost will be 3.22% and that will not change for 5 years. I bought these as a learning exercise. I have learned that buying that low spread reset pfd was a mistake 

If I convert 1 for 1 to FTS.PR.I as outlined in release posted above, my shares will then earn a dividend equivalent to 1.45+GOC-3month T-Bill, adjusted quarterly. Right now, that is 1.45+0.21% for total of 1.66% on par value. Not as good as H series, but if interest rates rise, so will the 3-month T-bill rate and in the end the I series may be a better bet. However, predicting interest rates is a mugs game - they could go negative.

I don't subscribe, but expect James Hymas to post a recommendation on Prefblog regarding the conversion.


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## Eder

Dubmac...The shares are poised to reset and the yield will drop...the share price reflects the reset. If interest rates go up the share price will increase as well, as future resets will provide better yields.
They serve well as a portion of an income oriented retirement portfolio. As other myself & others have said...understand what you are buying....there's no free/risk free ride.

I personally think that interest rates will be much higher in the future...that will hit my Fortis shares hard nut will put a sail into my rate reset preferreds.

Oh...and don't get hung up on FTS.PR.H . It is only in this discussion because Agent and I brought up that preferred issue..Agent thought it was a bad mistake and I responded that I was buying that issue. Credit rating of the issuing company is paramont along with a few other quirks, We all have our investment goals...that is why there is a buyer for every seller.


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## dubmac

understood the caveat emptor.
future interest rates play significantly here - I get that part. utilities (EMA, FTA etc) don't do well when rates go up, so you gain on the rate-reset preferred side.
thx agent & eder.


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## agent99

I don't see the part about higher interest rates benefiting this rate reset. Eder (& I) will be stuck with a low yield for 5 years. Then when it resets it will still be just 1.45% over the GOC-5 rate while others will likely higher. Both factors will keep price of the shares low and mean you have to keep them forever 

I also own FTS.PR.J - a Perpetual. Paid $19.88. It pays 4.75% on par forever (unless called). Or about 6% on my cost. Share value will fluctuate with interest rates, but at 6%, I won't be selling. Overall portfolio is lucky to yield that much in my time horizon.

Perpetuals were pulled down along with everything else, but I see that they are climbing back up. I have had trouble buying at yields I would like.


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## :) lonewolf

Put an order to buy puts slv July 9.00 might not fill


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## agent99

I had to pay more than I wanted, but bought additional EMA, AQN and BCE resets today. They yield in roughly 6-8% range until reset in 3-5yrs. After that they will reset at ~2.6 to 3.3% above GOC 5yr rate. Right now only 0.47%. Hopefully higher by reset time, but unlikely. Even if not, will have current yield of about 5% at reset..
Not expecting to make any gains on these. Share price could be volatile. But that is not a concern. They are just for cash flow in retirement.


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## Eder

agent99 said:


> They are just for cash flow in retirement.


That's the reason to own them (in moderation).


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## agent99

Eder said:


> That's the reason to own them (in moderation).





Eder said:


> I'm expecting capital gains, yield is for waiting. Fortis is less risky than others.
> JMO...


Not for capital gains like FTS.PR.H ??? 

By the way, those of who own FTS.PR.H have to decide soon on whether to keep them or convert to the FTS.PR.I floater. Lousy yield either way, Floater better IF we expect 90 day T-bill rate to increase over next 5 years. 

I read this recently re Fed rate in USA: *Between 2008 and 2015, the Fed kept the rate at zero. The recession ended in June 2009. *In Canada, rates were increased briefly after 08/09, but dropped back again. It was not until 2017 that they started to rise.

So not expecting much of a change here in 5 years. Haven't decided yet whether or not to convert.

Hope my new acquisitions do better than that Fortis reset!


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## londoncalling

Bought BIP:US today at 38.50 in my RRSP account. This was a carryover of the sale of DRG.UN where I had allocated some funds to BPY.UN and the remainder had sat waiting to be allocated. Not sure if and when we will see a second leg down but plan to hold long term. Still waiting for an opportunity to purchase CNR or a US RR.


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## agent99

agent99 said:


> By the way, those of who own FTS.PR.H have to decide soon on whether to keep them or convert to the FTS.PR.I floater. Lousy yield either way,


Sold that FTS pfd today. My shares would have only yielded 3.22% on my cost (1.9% on par) after reset. Can do better than that! Glad to be out of it. 
Replaced today with TRP.PR.J. Min reset with 5.5% minimum yield or BOC-5+4.69. Have to pay almost full price for these!


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## gardner

I added a bit to ENB, GWO and MG. Not all-in though, as I am feeling like there could be another down week somewhere.


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## dubmac

I feeling the same - I'm wondering whether the last 2 weeks of May will see a drop when banks report earnings.


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## multifaceted

I added to my SU position two weeks ago; CPX. I sold QSR - was in at $ 87 too high so took a loss and also NWC. Both of them make me nervous as it feels like momentum will fade.

To play I bought LPTH and AMD


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## londoncalling

Made a small purchase of BCE in my TFSA today at $54.78. Had an order in for BNS today as well at 49.80 that didn't get filled. BCE will likely be a long term hold. Prior to today Telus was my only Canadian telco and a much larger position.


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## agent99

Not buying any equities. But, being fully invested, don't have any cash to buy anyway! So far, dividend income has not been affected. That is what I watch - Market value of portfolio not that important.

Today, I did buy 500 BAM 4.75% perpetual preferreds. 6% cash yield, Just to replace a $10k bond that matured in RRIF.


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## Eder

I sold 1/3 Enbridge position a few days ago and put the proceeds into Fortis today. Low interest rates are like crack for these companies.


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## R. Austin

Finally got around to opening up a brokerage account thanks to COVID, been slowly picking up JETS (ETF) on its way down for the long term hope of an eventual turnaround. 🤞


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## alexincash

BAM - brookfield asset management long term. great company listed on TSX


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## londoncalling

1/2 position of PBCT- Peoples United Financial @ 11.35US. 28 years of dividend increases. Although its increases in recent years have only been a penny. Peoples was the only bank I found that has this track record. I had put in a bid a couple months ago and it never hit. I then refocused on Canadian equities and consolidating my TFSA,LIRA and RRSP accounts. After yesterday's 5% drop I decided to take a bite.


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## gardner

Bought GICs to roll over my GIC ladder. US$ at 1.2%/5y and C$ at 2.3%/5y. Bleah.
The EQBank one I bought in March comes up soon. Need to decide what thin option to choose with that. Bleah.


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## david0721

Markets are so high now, so hard to find opportunities. I bought Protech Home Medical Corp. recently, and was thinking of a small cap Photon Control, anyone have any opinion on this one? Saw a company overview on youtube


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## like_to_retire

Markets so high?


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## david0721

yeah, like the nasdaq is close to it's all time high, tsx is 15500, down only like 13%.


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## Eder

Buy the mine not the moose pasture is my mantra. J&J comes to mind.


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## MrBlackhill

david0721 said:


> yeah, like the nasdaq is close to it's all time high, tsx is 15500, down only like 13%.


Yup and we just got the correction that we deserved. Unfortunately for me, as I bought stocks this Monday and now they are down 12%. That was such a bad move from me, it was obvious that the small rally on the first week of June was just a joke. My choice to buy Monday was not influenced by last week's little rally, I just had a moment of weakness where I forgot to watch for those small signs. It'll come back up, but I hate myself for buying on an instant loss.


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## Eder

Most likely you'll be in the black soon if you bought blue chips. This pull back is overdue after the steam roller run we've been on. Just let time in the market do it's thing.


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## david0721

No one knew, but i was waiting for a pull back, i just picked up some photon control today, i did my due diligence on it, solid company, the video above does give a good summary. 



MrBlackhill said:


> Yup and we just got the correction that we deserved. Unfortunately for me, as I bought stocks this Monday and now they are down 12%. That was such a bad move from me, it was obvious that the small rally on the first week of June was just a joke. My choice to buy Monday was not influenced by last week's little rally, I just had a moment of weakness where I forgot to watch for those small signs. It'll come back up, but I hate myself for buying on an instant loss.


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## Eder

Bought a few hundred BCE back today.


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## MrBlackhill

david0721 said:


> No one knew, but i was waiting for a pull back, i just picked up some photon control today, i did my due diligence on it, solid company, the video above does give a good summary.


I think we knew... Look at how SP500 rallied since mid-May, then look how the daily new COVID cases increased since mid-May. Now watch what's happening in June... We knew that people were going to panic and sell when they figure out the market is recovering to pre-COVID level while we still haven't won the battle over the virus. And now that some countries are relaxing the restrictions, new cases emerge. People start to panic even if we don't even know if it's truly due to new cases or more tests. We should still be at mid-May level, before that fake rally, so I hate myself for having bought more at the beginning of June, worst mistake so far this year. I'm glad my investments this year are still 15% up so far, but I'm very pissed I added in June and lost 15% instantly on that money, otherwise I'd be up 20%.


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## Eder

If you are worrying about your stock being up or down week to week I would say you're buying the wrong companies.


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## MrBlackhill

Eder said:


> If you are worrying about your stock being up or down week to week I would say you're buying the wrong companies.


Well, I don't think I'm buying the wrong companies, I'm worried of playing this roller-coaster situation the right way. Take BMO.TO for example. Since the crash in March, it was then playing in the low 70s for 3 months, though some people may have bought at 75 at local maximums while others may have bought at low 60s at the local minimum. Even when planning on holding long, let's say 10 years, the entry point is important when the price is riding a roller-coaster if you're trying to take a big position. Imagine selling in 10 years at 200$ if bought at 75$, that's +165% return (10.3% yearly average), while selling at 200$ if bought at 60$, that's +233% (12.8% yearly average). Moreover, buying at 75$ is 5.6% yield on cost, while buying at 60$ is 7% yield on cost. Therefore, without trying to time the market, you still don't want to do stupid moves like buying over the trend price instead of buying under the trend price. Also, even if you plan on holding for long, if you bought at 75$ and at some point this autumn it starts smelling another crash, you don't have a big margin to sell at profit, while if you bought at 60$, you have more margin to take that money out before a potential second crash (while this is not an advice as BMO.TO will keep paying dividends).


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## james4beach

MrBlackhill said:


> Well, I don't think I'm buying the wrong companies, I'm worried of playing this roller-coaster situation the right way.


Precisely because it's a roller coaster ride, I think the only reasonable thing to do is to buy the securities you like whenever you have the money.

I think it's a losing battle to try waiting for perfect entry points. Instead I would put the effort into your securities selection and portfolio construction, and then either buy immediately, OR pre set your entry points (fixed schedule) and blindly buy on a schedule.

I can't see how trying to time your entries is worth the effort. For example, a few minutes ago, the Federal Reserve announced they will now be manipulating the corporate bond market in a new way. BMO jumped on the news. How can you possibly predict such a thing?


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## MrBlackhill

james4beach said:


> Precisely because it's a roller coaster ride, I think the only reasonable thing to do is to buy the securities you like whenever you have the money.
> 
> I think it's a losing battle to try waiting for perfect entry points. Instead I would put the effort into your securities selection and portfolio construction, and then either buy immediately, OR pre set your entry points (fixed schedule) and blindly buy on a schedule.
> 
> I can't see how trying to time your entries is worth the effort. For example, a few minutes ago, the Federal Reserve announced they will now be manipulating the corporate bond market in a new way. BMO jumped on the news. How can you possibly predict such a thing?


I agree but it's not all black or white. "Buying whenever you have money" vs "Trying to time the market to buy" is black or white, there's a balance. Say you wanted to buy REITs or Energy or maybe financials institutions, let's take XRE, XEG and XFN for example, to avoid pointing a specific stock picking.

XRE suddenly went +12% in less than a week.
XEG suddenly went +23% in about a week.
XFN suddenly went +11% in a week.
No obvious reasons for that. They were all moving slowly and then spiked. It's not as if we announced that we were deploying the COVID vaccine.

Considering the current situation, not sure I would trust that and buy after a sudden spike in price. There was always a correction in the past 3 months for those examples. It's not about technical analysis vs fundamental analysis, I simply use fundamental analysis to select my stocks and a little bit of pattern analysis to make sure I'm not buying an instant loss. When there are no suspicious and obvious spikes like the ones we saw the first week of June, then I would buy whenever I have the money.


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## james4beach

MrBlackhill said:


> Considering the current situation, not sure I would trust that and buy after a sudden spike in price.


You might do a better job at anticipating market ups & downs than me, but I know that *I've* had a terrible track record (over 20 years) trying to figure out timing, and trying to get 'good entry points'.


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## MrBlackhill

james4beach said:


> You might do a better job at anticipating market ups & downs than me, but I know that *I've* had a terrible track record (over 20 years) trying to figure out timing, and trying to get 'good entry points'.


I don't have that amount of experience in the market so I'm pretty sure my current opinion is biased even though I've made lots of trades recently trying to figure out strategies, patterns and cognitive biases.

I'm measuring the performance of such gut-feeling decisions to get rational facts.

It's easy to measure. Let's say you have money and you want to buy a stock. You look at the current price and you note it. Then you decide the goal price within a short time-window based on your gut-feeling. Then you decide the limit price to buy immediately if it goes the opposite direction than your gut-feeling. Then you compare the price you ended-up buying it to the initial price when you wanted to buy it. Build a track record of all those decisions and learn from your gut-feeling.

Maybe it's because I believe in how algorithm trading / quantitative trading can help optimising decisions. Using algorithms and AI to help screening for value and growth stocks from fundamental and technical indicators, then validating that selection using a human which will read about the company and dive deeper in the fundamental analysis, then using algorithms and AI again to optimise the entry point, then holding for long, but with the algorithm / AI helping the human flagging warnings if the stock is suddenly going sideways, but with the human taking the final call, then using again the machine to optimise the exit point. In my opinion, fully human-made decisions are not optimal and fully machine-made decisions are not optimal, but combining both of their strengths will provide better results.


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## alexincash

MrBlackhill said:


> I don't have that amount of experience in the market so I'm pretty sure my current opinion is biased even though I've made lots of trades recently trying to figure out strategies, patterns and cognitive biases.
> 
> I'm measuring the performance of such gut-feeling decisions to get rational facts.
> 
> It's easy to measure. Let's say you have money and you want to buy a stock. You look at the current price and you note it. Then you decide the goal price within a short time-window based on your gut-feeling. Then you decide the limit price to buy immediately if it goes the opposite direction than your gut-feeling. Then you compare the price you ended-up buying it to the initial price when you wanted to buy it. Build a track record of all those decisions and learn from your gut-feeling.
> 
> Maybe it's because I believe in how algorithm trading / quantitative trading can help optimising decisions. Using algorithms and AI to help screening for value and growth stocks from fundamental and technical indicators, then validating that selection using a human which will read about the company and dive deeper in the fundamental analysis, then using algorithms and AI again to optimise the entry point, then holding for long, but with the algorithm / AI helping the human flagging warnings if the stock is suddenly going sideways, but with the human taking the final call, then using again the machine to optimise the exit point. In my opinion, fully human-made decisions are not optimal and fully machine-made decisions are not optimal, but combining both of their strengths will provide better results.


Timing the market works until it doesn't. Believe me I've learned my lesson, you can have the perfect trading chart set up for a massive break that never comes. The problem is - timing the market assumes the market is rational but it's not. You can do everything "perfectly" and not get the result you want. The bottom line is that I think it's better to not worry about entry points and just play the value game.


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## MrBlackhill

alexincash said:


> Timing the market works until it doesn't. Believe me I've learned my lesson, you can have the perfect trading chart set up for a massive break that never comes. The problem is - timing the market assumes the market is rational but it's not. You can do everything "perfectly" and not get the result you want. The bottom line is that I think it's better to not worry about entry points and just play the value game.


I understand your point and I agree.

I'm just trying to find a balance. I'm not going to wait for a whole month before buying because I hoped the price would go down.

But even if we are trying to find value stocks, I'm pretty sure we all do some judgement-call before buying during these times of high volatility.

If you buy in a low-volatility market, then I guess you can just send market orders right away when you have the money. If you buy in a high-volatility market in recession, then I hope you do some judgement-call before buying even if it's a high value stock. I've bought some beaten-down stocks at -80%, then it spiked +150% in a week, then loss -50% the other week. People who bought at the peak were pissed, but did they really think that the recent +150% was sustainable and that we were rocketing to recover pre-COVID levels in a matter of a few weeks (after a -80% loss)? Hopefully not.


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## james4beach

MrBlackhill said:


> People who bought at the peak were pissed, but did they really think that the recent +150% was sustainable and that we were rocketing to recover pre-COVID levels in a matter of a few weeks (after a -80% loss)? Hopefully not.


My most recent RRSP contributions were exactly at the peak of the market (right at the top). Sure, it's unfortunate, but I've also learned over the years that this is a pretty random game -- you win some, you lose some.

I was not "pissed" buying in right at the top, and similarly, I was not bothered by the strong rally back. It's interesting to watch but it's part of that crazy thing the market does. It will keep doing ludicrous things, always. The next move could be a swift 50% crash, or it could be a massive rally to new heights never seen before.

If you start dedicating so much time and thought to each of those points (is this the top? why is it falling? why is it rallying?) I think you'll just drive yourself nuts over time.

The market will always do things like this. Yeah, I bought at a recent peak, but it doesn't really matter.

If these things bother you then I strongly recommend following a more conservative asset allocation -- as I'm doing. When you do that, all the movements get smoothed over, so "lows" and "highs" aren't as extreme.


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## cainvest

james4beach said:


> My most recent RRSP contributions were exactly at the peak of the market (right at the top). Sure, it's unfortunate, but I've also learned over the years that this is a pretty random game -- you win some, you lose some.


And in 10 years the blip will likely be hard to pick out on a graph.


----------



## james4beach

cainvest said:


> And in 10 years the blip will likely be hard to pick out on a graph.


It's already difficult to notice. My RRSP is already 1% higher than when I bought XIU at the peak price. (Note that my RRSP a heavily diversified portfolio)


----------



## gardner

Added to XIC and ZAG in the RSP. Just deploying dividend/distributions from the last quarter.


----------



## :) lonewolf

purchased i shares MSCI (MCHI) today looks like a 4th wave contracting triangle formed in the Hang Seng index that that started in 2000 ended in 2016. The thrust out of the triangle so far has completed the 1st & second waves of a 5 wave structure.

The second wave down formed an ABC wave A = wave C With the B wave forming a contracting triangle. The 3rd wave up is in progress. A move below The C wave of 2 will warn the count is wrong & will exit position.

If correct will look to take 50% off the table when 5 up are complete for wave 3 of 5 & or wave 3 = 1.618 the length of wave 1. Will then put money back on the table after .382 retracement of wave 3 & will close position out when it looks like the 5 waves up are complete. Will exit entire position on .618 retracement of a 3rd wave. Low risk to high reward set up with the triangles forming in wave 4 & the 2 nd wave making for some what high confidence. Since contracting triangles always form in the 4th wave or B wave


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## Emjay85

:) lonewolf said:


> purchased i shares MSCI (MCHI) today looks like a 4th wave contracting triangle formed in the Hang Seng index that that started in 2000 ended in 2016. The thrust out of the triangle so far has completed the 1st & second waves of a 5 wave structure.
> 
> The second wave down formed an ABC wave A = wave C With the B wave forming a contracting triangle. The 3rd wave up is in progress. A move below The C wave of 2 will warn the count is wrong & will exit position.
> 
> If correct will look to take 50% off the table when 5 up are complete for wave 3 of 5 & or wave 3 = 1.618 the length of wave 1. Will then put money back on the table after .382 retracement of wave 3 & will close position out when it looks like the 5 waves up are complete. Will exit entire position on .618 retracement of a 3rd wave. Low risk to high reward set up with the triangles forming in wave 4 & the 2 nd wave making for some what high confidence. Since contracting triangles always form in the 4th wave or B wave


I says pardon....

Most recent buy was First National Financial (FN.TO). Has been on my radar for sometime, finally pulled the trigger. Small position for now.


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## MrBlackhill

I bought DOO.TO in mid-April. Only a small position. Doubled my money in no time. Never made money that fast (except on luck). Faster than my big position on KXS.TO. I wish I had a bought a big position on DOO.TO.


----------



## MrBlackhill

In June, I dipped my toe in a bit of energy stocks and I guess I should've bought HED instead (2x Energy Bear ETF, currently at +50% for the month). Instead, I'm currently at -20% for the month... Currently my worst entry point of 2020. And today there's blood on the streets everywhere I look. I only have one small cap clean energy stock at +2% at the moment. Not that I'm worried, most of my investment is for the long run and that portfolio is over +25% for my 2020 investments, but I also invested a bit of money for quick cash that I will hopefully sell at profit in 2-3 months.


----------



## Pluto

james4beach said:


> Precisely because it's a roller coaster ride, I think the only reasonable thing to do is to buy the securities you like whenever you have the money.
> 
> I think it's a losing battle to try waiting for perfect entry points. Instead I would put the effort into your securities selection and portfolio construction, and then either buy immediately, OR pre set your entry points (fixed schedule) and blindly buy on a schedule.
> 
> I can't see how trying to time your entries is worth the effort. For example, a few minutes ago, the Federal Reserve announced they will now be manipulating the corporate bond market in a new way. BMO jumped on the news. How can you possibly predict such a thing?


What about value vs price? Value investors have been incorrectly called market timers apparently because they wait and buy aggressivley when better value presents itself. Buying anytime opens the door to over


----------



## MrBlackhill

So... starting in mid-April, I invested in 16 TSX-only companies and "only" 27% tech and I don't have SHOP in my holdings. Yet, 3 months later, I'm beating IXIC which has lots of US tech big names and a great run up during the last 3 months.

I know that beating IXIC in a 3-month time span means absolutely nothing. The goal is to keep up on the long run after many years and decades.

But my question is : does that mean that investing this year (after the crash) was a pretty easy way to make money? I guess yes because after a crash there's a small rebound, but then getting back to pre-crash level may take either a few months or a few years...

I think I've only been lucky though, because in mid-April, we were only 3 weeks after the crash and it could have dropped even more. Who am I to predict that it was really the end of the crash? And it can still crash again this summer or fall. Though I can cash out my current gains right today if I wish. But will I? No... (That's because I'm a long investor, though)

Still, I have another portfolio where I did some reckless investing for a big chunk of money that I'll need in a few months. I guess there's a difference between being reckless and assessing risk?


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## james4beach

I bought a 5 year GIC at 1.20%

Why would I buy at such a low rate when cash yields more? The GIC ladder strategy requires that you keep filling in the ladder, at regular intervals, and always buy a 5 year. Sticking with this strategy (committing to it) means that you don't talk yourself out of buying under different interest rate conditions. The strategy is kept simple so that it's easy to stick with over the long term.

Is it a good rate? Bad rate? Who knows. If inflation really is running at around 0% and if we're heading into a depression, then this is a positive real return and a good rate.


----------



## Eder

I pulled the plug buying any fixed income lower than 2%...(I believe that's the real inflation rate for my lifestyle). I have lots yielding higher and adding some convertible debentures & a few more preferred shares...although for some reason preferred pricing got pretty wonky last few days.


----------



## james4beach

Bought more ENB and FTS

Just adding new money into my 5-pack. These two positions had underperformed recently and were underweight in the portfolio.


----------



## londoncalling

Deployed some of my proceeds from Ag Growth International(AFN.TO) into Edison International (EIX.US) doubling my position in the California Electrical Utility at a price of 51.61. Undecided if I will make more moves before the US election. Today's buy leaves me sitting at about 12% cash which is higher than I typically am used to.


----------



## newfoundlander61

I am likely going to wait for a bit until the election occurs and then deploy some cash. One side question if thats okay if Biden wins and shuts down the pipeline, what will this do to TRP's stock?


----------



## nobleea

I bought some more TECK at 15 last week.


----------



## Eder

Tripled my position in Choice REIT...6% yield. Its the only REIT I have at this time even though the sector has not yet recovered and there seems to be good value in many names...FCR comes to mind.


----------



## nobleea

Bought some more TECK and CAE.


----------



## agent99

I had a few gics and a bond mature. At bmo 5yrs gic is 1.6% and they have no Corp bonds that I would touch.
Ended up buying 5 preferred across different accounts. A couple of min resets, a couple of perpetual and a reset with high spread. Yields on cash invested in 5.5-6% range IIRC. Companies like BAM, TRP, Power Corp, Manulife. Added a bit to ZPR in one account - they hold a lot of bank pfds that have or may be redeemed. But that's another subject.


----------



## Jimmy

agent99 said:


> I had a few gics and a bond mature. At bmo 5yrs gic is 1.6% and they have no Corp bonds that I would touch.
> Ended up buying 5 preferred across different accounts. A couple of min resets, a couple of perpetual and a reset with high spread. Yields on cash invested in 5.5-6% range IIRC. Companies like BAM, TRP, Power Corp, Manulife. Added a bit to ZPR in one account - they hold a lot of bank pfds that have or may be redeemed. But that's another subject.


I was thinking of some minimum resets. They seem ok w a floor of 4.75 %. . They also seem a lot less interest rate risk sensitive than the regular resets that have fallen 20% as they slashed rates to .25%. The BAM issues look ok w a good credit rating.

Do you like the series BAM.PF.J? 4.75% floor , +3.17%. Are they ok for liquidity?


----------



## agent99

Jimmy said:


> Do you like the series BAM.PF.J? 4.75% floor , +3.17%. Are they ok for liquidity?


Looking at the Scotia summary (copy attached), it says that issue pays current div of $1.20 (4.8% of par). It has a min reset of 4.8%, otherwise 3.85%+GOC5 on 3/31/2022. I never considered that one. I did look at BAM.PF.H that has a 5% min reset and 4.17% spread. Resets Dec31 this year. In the end, the price of these similar issues seems to move so that resulting yields are comparable. More action on the J series, so could be OK.

One similar min reset I did buy was TRP.PR.K - Min reset of 4.9% with 3.85% spread Resets 3/15/2021. Similar credit rating to BAM. So ~5% yield for 7 months then 4.9% for next 5 years if not called.

Another min reset was a BIP issue BIK.PR.A Min reset of 5.85% with 3.96% spread Resets 3/31/2024. P-2L credit rating. The corporate structure of BAM is complex, but this is part of same group and is backed by them.

Also BEP.PR.I - Min reset of 5.75%, 5/01% spread Resets on 7/31/2021. Until then 5.85% based on purchase price. Also a BAM corporation with P-2L credit rating.

I thought I had bought several others, but orders were not filled. Only one perpetual POW.PR.C. 5.73% forever, but it is non-cumulative, but does have P-1L rating.

Regarding liquidity - I was able to by these and others obviously sold them. I just look at the daily trading volume for pfds that look interesting.

Still have some cash - undecided on what to do with it.


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## Jimmy

agent99 said:


> Looking at the Scotia summary (copy attached), it says that issue pays current div of $1.20 (4.8% of par). It has a min reset of 4.8%, otherwise 3.85%+GOC5 on 3/31/2022. I never considered that one. I did look at BAM.PF.H that has a 5% min reset and 4.17% spread. Resets Dec31 this year. In the end, the price of these similar issues seems to move so that resulting yields are comparable. More action on the J series, so could be OK.
> 
> One similar min reset I did buy was TRP.PR.K - Min reset of 4.9% with 3.85% spread Resets 3/15/2021. Similar credit rating to BAM. So ~5% yield for 7 months then 4.9% for next 5 years if not called.
> 
> Another min reset was a BIP issue BIK.PR.A Min reset of 5.85% with 3.96% spread Resets 3/31/2024. P-2L credit rating. The corporate structure of BAM is complex, but this is part of same group and is backed by them.
> 
> Also BEP.PR.I - Min reset of 5.75%, 5/01% spread Resets on 7/31/2021. Until then 5.85% based on purchase price. Also a BAM corporation with P-2L credit rating.
> 
> I thought I had bought several others, but orders were not filled. Only one perpetual POW.PR.C. 5.73% forever, but it is non-cumulative, but does have P-1L rating.
> 
> Regarding liquidity - I was able to by these and others obviously sold them. I just look at the daily trading volume for pfds that look interesting.
> 
> Still have some cash - undecided on what to do with it.


Great. Thanks. Is that Scotia report available on a url?


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## agent99

Jimmy said:


> Great. Thanks. Is that Scotia report available on a url?


Don't know. Maybe for clients of Scotia?

HOWEVER, you could try this (Just found this out today!)


https://gpag.scotiawealthmanagement.com/content/uploads/sites/2/Daily-250.pdf



Try different numbers in the url after Daily- 
250 happens to be last Friday (Aug 28th). It is supposed to be daily, so you could try and figure out their numbering system  If you back off by 5 to 245, you would think that might be Monday 24th, but it comes up with Thursday 20th. Daily-1 was 6 Aug 2019. So not issued daily. Still, we can get close by trial and error! Or just print a slightly earlier version and look up the current prices on-line.


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## Jimmy

agent99 said:


> Don't know. Maybe for clients of Scotia?
> 
> HOWEVER, you could try this (Just found this out today!)
> 
> 
> https://gpag.scotiawealthmanagement.com/content/uploads/sites/2/Daily-250.pdf
> 
> 
> 
> Try different numbers in the url after Daily-
> 250 happens to be last Friday (Aug 28th). It is supposed to be daily, so you could try and figure out their numbering system  If you back off by 5 to 245, you would think that might be Monday 24th, but it comes up with Thursday 20th. Daily-1 was 6 Aug 2019. So not issued daily. Still, we can get close by trial and error! Or just print a slightly earlier version and look up the current prices on-line.


Great thanks. Hard to find a list of all PS and a good report to compare them Just thought it was on the Scotia website but looks like you have to have a Scotia account to access.


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## newfoundlander61

Eder said:


> Tripled my position in Choice REIT...6% yield. Its the only REIT I have at this time even though the sector has not yet recovered and there seems to be good value in many names...FCR comes to mind.


This is also the onely REIT I hold as well in my wifes TFSA.


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## R. Austin

Currently debating whether to take the safe long term bet and buy into BCE.TO or another solid Div option, take a slightly riskier option and buy into a REIT for the hopeful bounce back and Divs, or turn a blind eye to my feelings that the tech industry is overpriced right now and buy shares of Apple since the split has made it slightly more affordable. Decisions, decisions.


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## agent99

Jimmy said:


> Great thanks. Hard to find a list of all PS and a good report to compare them Just thought it was on the Scotia website *but looks like you have to have a Scotia account to access.*


Unless you follow my suggestions above or download from Investorvillage Blue Chip forum when posted there.

Yesterday's summary (#251) https://gpag.scotiawealthmanagement.com/content/uploads/sites/2/Daily-251.pdf


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## Jimmy

agent99 said:


> Unless you follow my suggestions above or download from Investorvillage Blue Chip forum when posted there.
> 
> Yesterday's summary (#251) https://gpag.scotiawealthmanagement.com/content/uploads/sites/2/Daily-251.pdf


Thanks. Will follow the suggestion. I was just mentioning before the report is likely behind the Scotia pay wall but your pdf link is a way around it ( or links to another site where someone is downloading copies)


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## peterk

Rolled 2021 SPY 300 Calls forward to 2022 310 Calls (x3) in unregistered.

Sold half my AAPL and doubled XOM shares in RRSP

Bought more QQQ and SU in TFSA


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## londoncalling

Grabbed some more Telus today at 24.22 in TFSA.


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## peterk

peterk said:


> Rolled 2021 SPY 300 Calls forward to 2022 310 Calls (x3) in unregistered.
> 
> Sold half my AAPL and doubled XOM shares in RRSP
> 
> Bought more QQQ and SU in TFSA



Well - That was lucky! (Except the adding to QQQ part)


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## Eder

No kidding, good job although these "accidents" tend to even out over time lol.


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## agent99

Allocation to equities over 65% which is high at my age. Besides, not sure what will happen to markets once the results of all the current printing of money set in. So no new equities right now!

GICs at 1.6% for 5 yr just don't cut it (money is in BMOIL Registered). No bonds worth buying. That again leaves me looking at Preferreds. Not true fixed income, but min resets and perpetuals are short & long term bond-like. However, they have been bid up. Today bought a straight reset. FFH.PR.M (@$19.58) that will yield about 6.4% for 5 yrs and then reset at 3.98%+ 5yrBOC rate. Higher risk than I would like (3H/3M), but only $10k for TFSA so risk acceptable to me.


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## Jimmy

agent99 said:


> Allocation to equities over 65% which is high at my age. Besides, not sure what will happen to markets once the results of all the current printing of money set in. So no new equities right now!
> 
> GICs at 1.6% for 5 yr just don't cut it (money is in BMOIL Registered). No bonds worth buying. That again leaves me looking at Preferreds. Not true fixed income, but min resets and perpetuals are short & long term bond-like. However, they have been bid up. Today bought a straight reset. FFH.PR.M (@$19.58) that will yield about 6.4% for 5 yrs and then reset at 3.98%+ 5yrBOC rate. Higher risk than I would like (3H/3M), but only $10k for TFSA so risk acceptable to me.


Agent, Bought some BAM.PF.J resets 4.91 % yield now + 3.1% + 5 yr. Unaffected by the last few days and have been pretty stable and w interest rate changes earlier too. May look at regular resets that have some capital upside as well. Interest rates at .25% really are at the bottom.

Sold a US corporate bond fund that was up 8% last year but has a ytm now of < 1% and ptless. May add some more vs corporate bonds/cash to < ~ 5-10 % of portfolio


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## agent99

Jimmy said:


> Agent, Bought some BAM.PF.J resets 4.91 % yield now + 3.1% + 5 yr. Unaffected by the last few days and have been pretty stable and w interest rate changes earlier too. May look at regular resets that have some capital upside as well. Interest rates at .25% really are at the bottom.


So BAM.PF.J is yielding 4.91% on price you paid. It is a min reset with with reset interest same as present rate (4.75%), reset date end of 2022. So unless it is called (unlikely) you should continue to have a yield of 4.91%on purchase price until end of 2027. At that point it will reset at GOC5 + 3.1% (or 4.75%). What it's value will be at that point will depend on how it compares with alternatives. Even with min resets, it seems to me good to buy those with high spread. But then you may have to pay more and receive lower yield. 
It's hard to get 4.91% for 7 years so even if price drops by then, you will have had a good ride 

pfds are now about 11% of our portfolio. Probably enough. But I am wary of true equities. They look overvalued given the state of the true underlying economy. Just look at the unemployment here and in USA. Also all the businesses that have had to close. And we are not done yet with Covid.


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## scorpion_ca

Every month ZAG, ZPR and ZRE thru DRIP.


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## james4beach

I bought the 2045 Government of Canada bond today (25 years to maturity) at a yield of 1.02%

This was to maintain my bond portfolio. I needed to boost the weighted average maturity, and this brings my portfolio's avg maturity back near 7 years, my target.


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## like_to_retire

james4beach said:


> I bought the 2045 Government of Canada bond today (25 years to maturity) at a yield of 1.02%
> 
> This was to maintain my bond portfolio. I needed to boost the weighted average maturity, and this brings my portfolio's avg maturity back near 7 years, my target.



James, you have chutzpah to stick to your plan. I applaud you. 

I have never had the conviction of any long term prophecy when interest rates and governments were involved.

In fact, for many years, on the short end, I used GIC's for my 1-5 year alloaction, and then corporate bonds and preferreds to extend that out to 10 years. Ten years was my limit.

Then I came to a decision a number of years ago that I didn't trust what the government would do and altered my asset allocation so that all those funds greater than 5 years went to equities and the 1 to 5 years went exclusively to GIC's in the form of ladders, so my fixed income is only 5 years max.

But here you are buying 25 year bonds at 1.02%. That takes guts. You may well end up ahead of all of us...............

ltr


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## james4beach

like_to_retire said:


> But here you are buying 25 year bonds at 1.02%. That takes guts. You may well end up ahead of all of us...............


I think you're reading too much into this. This is a passive indexing-like approach and I don't have any opinion on where yields are heading. The reason it's passive is that I have two portfolio rules I *must* follow: (1) space the bonds/GICs evenly and (2) weighted avg maturity should be roughly 7 years.

Maintaining a constant average maturity is a key feature of bond funds. In this situation, I basically had to buy the 25 year bond. I already own a 10 year bond and 30 year bond, and so to satisfy both of those rules, I had to buy something in the 15 to 25 year range.

The passive portfolio frees me from decisions of predicting interest rates. It's very similar to a GIC ladder. So the rules tell me what I must buy. It's similar to how asset allocation tells you what you must do whenever you buy or sell based on your asset weights, etc.


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## AltaRed

Bought that 5 year GIC @ 1.6% today in my RRSP to replace one that matured on Friday. There was nothing in the corporate bond inventory that came close to being 'safe' with a yield exceeding 2%. I start RRIF withdrawal in 2021 so I don't want any volatility (entire RRSP is a 5 year GIC/bond/debenture ladder).

I plan to operate my RRIF normally for 10 years, then wind it down to zero over the last 5 years (if I am still here and competent). One less thing for my POA/Executor to think about.


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## james4beach

AltaRed said:


> Bought that 5 year GIC @ 1.6% today in my RRSP to replace one that matured on Friday. There was nothing in the corporate bond inventory that came close to being 'safe' with a yield exceeding 2%. I start RRIF withdrawal in 2021 so I don't want any volatility (entire RRSP is a 5 year GIC/bond/debenture ladder).


Not wanting any volatility is reasonable if you have imminent withdrawals. Which issuer had 1.6% yield?


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## AltaRed

james4beach said:


> Not wanting any volatility is reasonable if you have imminent withdrawals. Which issuer had 1.6% yield?


On Friday, there were Home Trust and Home Equity. Today, it was only Home Equity. I looked at their financials before buyng because iTrade didn't have a credit rating posted for Home Equity Bank.


----------



## Eder

Achieva has 2.1% 5 year GIC. Still sucky but keeps up with inflation. They did just drop my HISA to 1.5 % recently.


----------



## AltaRed

Eder said:


> Achieva has 2.1% 5 year GIC. Still sucky but keeps up with inflation. They did just drop my HISA to 1.5 % recently.


Working the online banks/CUs for best GIC and HISA rates may be worthwhile in some cases for non-registered accounts, but they are pure hell for registered accounts as it limits one to that institution and/or incurs transfer out fees to go elsewhere. No end of discussion on these registered account issues at Canadian High Interest Savings Accounts

I have non-registered HISAs and GICs at both EQ Bank and LBC Digital.....but would never consider anything other than a brokerage account for registered accounts.


----------



## Eder

Sorry wasn't trying to criticize your purchase,just wanted to put out what I thought was a decent rate for info.


----------



## AltaRed

Eder said:


> Sorry wasn't trying to criticize your purchase,just wanted to put out what I thought was a decent rate for info.


I didn't take it negatively. My response was to differentiate between what could be constraints with registered accounts. 

FWIW, I picked up LBC Digital 1 year at 2.1% in a non-reg account before they dropped it a few weeks ago. May be the last we see of 2% even at 5 years pretty soon. Rates are dropping daily it seems.


----------



## john.cray

AltaRed said:


> I have non-registered HISAs and GICs at both EQ Bank and LBC Digital.....but would never consider anything other than a brokerage account for registered accounts.


Do you limit your holdings per institution up to the insured limit? Ex $100K CDIC?


----------



## AltaRed

john.cray said:


> Do you limit your holdings per institution up to the insured limit? Ex $100K CDIC?


Generally yes, though I don't have real concerns about being over on either of those 2 institutions....proviided it is HISA money I can move out quickly if a "run starts on the bank" like it did with Home Capital Group in 2017(?). If you recall, lots of people were pulling savings out of Oaken Financial during that run. 

P.S. I still would not go over $100k at Oaken/Home Trust at this point given they have not re-gained investment grade credit ratings...but their financials have been looking much better this past year in particular and are on their way back. That said, it is hard to know if these 'lenders' have set aside enough provisions yet for delinquent mortgages which could be hitting the fan in 4Q.


----------



## james4beach

AltaRed said:


> Generally yes, though I don't have real concerns about being over on either of those 2 institutions....proviided it is HISA money I can move out quickly if a "run starts on the bank" like it did with Home Capital Group in 2017(?). If you recall, lots of people were pulling savings out of Oaken Financial during that run.


HISAs are indeed liquid, but I do worry about bank solvency when it comes to locked-in GICs. I only buy GICs from A rated institutions, mainly as a "sleep at night" concern.

For example if I look at the listings and see Equitable at 1.46% and a Big Five at 0.95%, I would say to myself that the extra 51 basis points is not enough to compensate me for the potential headache and stress of dealing with a sketchy bank imploding. If faced with that choice, I would go with the Big Five at 0.95%


----------



## AltaRed

I am not really concerned about credit rating in a locked-in 5 year GIC as long as it is investment grade and I stay within CDIC limits. For example, I'd go BBB over A+ for as little as 10-15 extra bp and have done so for as long as I can remember.


----------



## james4beach

AltaRed said:


> I am not really concerned about credit rating in a locked-in 5 year GIC as long as it is investment grade and I stay within CDIC limits. For example, I'd go BBB over A+ for as little as 10-15 extra bp and have done so for as long as I can remember.


Ok, didn't realize that. I guess my perspective on this is different. For a 20K principal, the difference between 1.2% and 1.0% even on a 5 year GIC is a $200 ending value difference.

I still am not willing to expose myself to a potential bank disaster for only $200 extra, but I could see the opposite view as well... someone may say that $200 compensation for that risk is worthwhile.


----------



## like_to_retire

james4beach said:


> I do worry about bank solvency when it comes to locked-in GICs. I only buy GICs from A rated institutions, mainly as a "sleep at night" concern.


Matters not to me as long as I have CDIC coverage with all GIC's I purchase.

I ignore institutional ratings when I know that the GIC is backed by CDIC. This is one of the few freebies that fixed income offers. The GIC rates reflect the ratings, and don't take the CDIC insurance into consideration. This protects against losses in the event that the financial institution fails. It's iron clad. There is simply no reason to take out a GIC (less than 100K) at an institution with a better rating than another as long as both have CDIC coverage.

ltr


----------



## MrBlackhill

james4beach said:


> For a 20K principal, the difference between 1.2% and 1.0% even on a 5 year GIC is a $200 ending value difference.
> 
> I still am not willing to expose myself to a potential bank disaster for only $200 extra, but I could see the opposite view as well... someone may say that $200 compensation for that risk is worthwhile.


Well, that 0.2 extra bp must be put into perspective. It's 1% vs 1.2%, that's 20% more interests (actually 20.48% more interests after 5 years).

Feels weird to say that the extra 200$ is little and not worth it when talking about an investment that will provide 1000$ interests, which is also little.

10.2% vs 10% may not worth it.
But 1.2% vs 1% may worth it.


----------



## james4beach

MrBlackhill said:


> Well, that 0.2 extra bp must be put into perspective. It's 1% vs 1.2%, that's 20% more interests (actually 20.48% more interests after 5 years).
> 
> Feels weird to say that the extra 200$ is little and not worth it when talking about an investment that will provide 1000$ interests, which is also little.
> 
> 10.2% vs 10% may not worth it.
> But 1.2% vs 1% may worth it.


Well my thought is that all the numbers are so low that they are almost inconsequential. I don't invest in GICs to get high returns. I get my high returns from stocks, and GICs and bonds are there to give stability and protect against deflation or total market implosion.

So yeah, $200 is very little. So is the $1000 interest on the 20K. That's what I mean. I'm not in those things for the returns.

In normal interest rate environments I would think differently but once rates are down near zero, my style of thinking changes. At near-zero rates, fixed income is now a safety and deflation protection. No fixed income will provide any significant return.


----------



## MrBlackhill

I wasn't planning on buying anything more this year, but I ended up buying a bit of REAL.TO today. I plan to do other purchases tomorrow maybe. Then I'll be done for the year.

I should've waited a bit more as it may continue to drop, but I want to hold it long so I'm ok with that.


----------



## newfoundlander61

Will add some CPX as a new holding to my account.


----------



## AltaRed

newfoundlander61 said:


> Will add some CPX as a new holding to my account.


Rationale? I used to own CU but got tired of slow (or no) growth in AB's power consumption and soft electrical prices. CPX is in the same market.

I've shied away from CPX, also due to their credit rating (BBB-/BBB(low)) which is barely investment grade.


----------



## :) lonewolf

this morning went long TQQQ with a stop below yesterdays low


----------



## agent99

AltaRed said:


> Rationale? I used to own CU but got tired of slow (or no) growth in AB's power consumption and soft electrical prices. CPX is in the same market.
> 
> I've shied away from CPX, also due to their credit rating (BBB-/BBB(low)) which is barely investment grade.


I recently had a look at CPX , but mainly because one of their bonds I own was just called and they have a Min Reset pfd that looked of interest.

First thing I noticed, was that their operations are quite widespread - they are not just in Alberta. 28 operating facilities of which 8 are in Alberta (2 wind, 1 small landfill gas). 10 are in USA and of those 5 are wind and 1 solar. Total nameplate generating capacity is just 6491MW. Pretty small operator it seems - 17.5% of Ontario's installed capacity and with 10 of 28 wind or solar, actual output likely quite low.

I have owned CU for some time. I also own one of their perp pfds. The pfd has actually done better! Both pay about 5% dividend. The 5yr chart for CU looks like the Rocky Mts. Long term, no capital growth, so might as well have just owned the pfd which except for the brief covid drop has been relatively stable for long period.

So, should I buy CPX.PR.G??? Probably won't because trading seems to be pretty thin.


----------



## james4beach

:) lonewolf said:


> this morning went long TQQQ with a stop below yesterdays low


Nice trade! If you bought in the morning, you're now up 5%, maybe more. Time to sell perhaps?


----------



## AltaRed

agent99 said:


> I recently had a look at CPX , but mainly because one of their bonds I own was just called and they have a Min Reset pfd that looked of interest.
> 
> First thing I noticed, was that their operations are quite widespread - they are not just in Alberta. 28 operating facilities of which 8 are in Alberta (2 wind, 1 small landfill gas). 10 are in USA and of those 5 are wind and 1 solar. Total nameplate generating capacity is just 6491MW. Pretty small operator it seems - 17.5% of Ontario's installed capacity and with 10 of 28 wind or solar, actual output likely quite low.


Okay, I should have said a significant part of their assets are in AB (like CU). I need to add more context to my comments. 

That all said. I don't like their credit rating to buy the commons albeit most of their income is regulated and has some certainty. I do hold one of their bonds because of the regulated income.


----------



## :) lonewolf

james4beach said:


> Nice trade! If you bought in the morning, you're now up 5%, maybe more. Time to sell perhaps?


 I think new highs


----------



## :) lonewolf

james4beach said:


> Nice trade! If you bought in the morning, you're now up 5%, maybe more. Time to sell perhaps?


Thanks James

This post is more intended for Elliott wave traders. If you do not understand Elliott wave you probably will not have a clue what I am talking about.

Not sure if still the case Bob Prechter set the all time record in the US trading championships option division using Elliott wave with over half the winners since using Elliott wave.
Instead of using options I used a triple leveraged ETF so I did not have to worry about time decay. I used the Nasdaq 100 because the price pattern was clearer for the set up.

Using the 15 minute chart. The price action in the Nasdaq 100 from the all time high going into the 10677 low using Elliott wave the price pattern looks like a completed correction. The rally from the 10677 low going into the 11207 looked text book 5 waves up. Then we had a 3 wave decline into yesterdays low. The price action off of yesterdays low completed 5 up followed by am abc decline. A break of yesterdays highs of the completed initial 5 up from yesterdays low I am counting as wave 1 of a 3rd wave up off of the 10677 low was the signal to go long with a stop @ the bottom of wave 2 which was yesterdays low.

The price pattern in the market is fractal meaning smaller patterns with in larger patterns. To go long the larger price pattern sometimes it is best to use a smaller price pattern to go long the larger price pattern.

One way to play Elliott is after initial 5 waves up & an abc correction of the initial 5 up is complete is to go long on a move that goes 1 tick above the initial 5 waves up placing a stop @ the bottom of the abc correction. It increases the odds of being right then going long @ the bottom of the abc. For a down market just do the opposite

Though if using options especially in a down market best to buy the option @ the end of the abc correction then using a move back above the initial 5 wave movement.


----------



## agent99

AltaRed said:


> Okay, I should have said a significant part of their assets are in AB (like CU). I need to add more context to my comments.


I wasn't checking up on you - just doing some due diligence  

I had always assumed that CPX was an Alberta utility. I guess it is, but as posted, found that it has quite a number of operations elsewhere. May make it less vulnerable to Alberta's economy. But I didn't buy their preferred anyway 

Had previously thought CU was mainly Alberta, but a while back found that they too have operations in Mexico, Puerto Rico, Australia, Canada's North as well as Alberta. Also saw that they sold off quite a number of partly or fully owned natural gas-fired and coal-fired electricity generation assets located in Alberta, British Columbia, Sask and Ontario . Seems they are transitioning to a different type of company. To Quote their CEO: "Going forward, as part of ATCO, we will continue our focus on building a global portfolio of premier utility and long-term contracted energy infrastructure assets, and on reliably delivering operational excellence and exceptional customer service.” 

I will continue to hold CU and see how things go.


----------



## :) lonewolf

Just put on a position trade Marathon patent group & Riot crypto mining companies purchased 100 shares of each total value of both trades under 500 dollars. High risk reward on this trade traded small


----------



## :) lonewolf

purchased JKS, CCJ & GDLC today position trade


----------



## :) lonewolf

JKS closed up 9.49% today looking to sell mid Feb 2021, CCJ looking to sell Jan 2 or June 2 2021, GDLC looking to sell June 2021 all based on seasonal & price pattern


----------



## gardner

Deployed this quarters' RRSP dividends int XIC and ZAG.


----------



## londoncalling

Made a purchase of VEQT at 29.10 today in my son's RESP. Will deploy additional funds each month on a go forward basis. Will not be posting future buys as this is an automatic event moving forward. No commission aside from a few pennies for ECN through Questrade.


----------



## agent99

As corporate bonds mature or are called, I keep looking for places to re-invest. Should be fixed income or at least alternatives with equal or lower risk that provide cash flow. Not many choices. Not going to GICs or bonds at current yields. Leaves preferreds and common stock. 

I had about $22k to re-invest - Chose to put half in Power Corp (POW) and rest in W.PR.M (Min reset pfd from West Coast Energy - an Enbridge gas company) Yielding 6.6% and 5.2% respectively.

More maturing soon, so will again be faced with similar decisions.


----------



## james4beach

agent99 said:


> As corporate bonds mature or are called, I keep looking for places to re-invest. Should be fixed income or at least alternatives with equal or lower risk that provide cash flow. Not many choices. Not going to GICs or bonds at current yields. Leaves preferreds and common stock.
> 
> I had about $22k to re-invest - Chose to put half in Power Corp (POW) and rest in W.PR.M (Min reset pfd from West Coast Energy - an Enbridge gas company) Yielding 6.6% and 5.2% respectively.


Can you get that Simplii promotion at 2.3% interest for 6 months? That's such a high interest rate on cash (zero risk, zero volatility) that it might be worth phoning them to see if you can open an account and get that promo.


----------



## john.cray

james4beach said:


> Can you get that Simplii promotion at 2.3% interest for 6 months? That's such a high interest rate on cash (zero risk, zero volatility) that it might be worth phoning them to see if you can open an account and get that promo.


I am not a client and I called them to check anyway. They said that it's only for existing clients and it depends on the "relationship" with the bank. On the other hand there's 2.0% for new clients until end of March 2021. The bonus interest will be paid off at the end of the period.


----------



## Eder

Doubled my position in TD...recent weakness has it yielding over 5%.


----------



## james4beach

john.cray said:


> I am not a client and I called them to check anyway. They said that it's only for existing clients and it depends on the "relationship" with the bank. On the other hand there's 2.0% for new clients until end of March 2021. The bonus interest will be paid off at the end of the period.


2% is awfully good too. Even my credit union only pays 1.3%. With these promotional rates, they always pay in the month after the end of the promo.

You might also ask Tangerine if they have a competing promo. Then go with whichever one has the highest rate for the longest time.


----------



## agent99

Eder said:


> Doubled my position in TD...recent weakness has it yielding over 5%.


I had been looking at TD. Was surprised that it had that high a yield. Which of course means stock price down compared with other majors like RBC. Maybe because of high US exposure?


----------



## james4beach

agent99 said:


> I had been looking at TD. Was surprised that it had that high a yield. Which of course means stock price down compared with other majors like RBC. Maybe because of high US exposure?


Banking is generally seen as dangerous these days due to the possibility of high loan losses and economic weakness. I would expect high yields on all banks.

The Federal Reserve has extended its restriction on bank dividend payments. Dividends remove critically important cash from the bank's capital, and run the risk of depleting capital. If the downturn persists, then banks would end up with insufficient capital and would be forced to tighten credit. It would also cause losses for shareholders as they raise more capital.

When you look at the Canadian banks just keep in mind that they are not being particularly cautious with their capital position. If the economic downturn continues, and if we get a true depression, they may have insufficient capital. At that point you might get dividend cuts or a drop in share price as the banks are forced to recapitalize.

CERB and other stimulus has been smoothing things over and preventing people from defaulting on loans. If those stimulus measures end, the bank's loan books will deteriorate and possibly implode.


----------



## Eder

agent99 said:


> I had been looking at TD. Was surprised that it had that high a yield. Which of course means stock price down compared with other majors like RBC. Maybe because of high US exposure?


I like RY & TD,their US exposure is a huge plus as Trudeau is working hard to make our currency worthless. Anytime their yield is over 5% gets me interested.


----------



## MrBlackhill

james4beach said:


> When you look at the Canadian banks just keep in mind that they are not being particularly cautious with their capital position.


Canadian banks are part of most heavily regulated banks in the world and considered as the safest in the world. There may be some short term volatility, but I doubt and on the long term it's a no-brainer buy in my opinion.

I always thought that if I fear buying a Canadian bank, then I should fear the whole Canadian market and should not invest in Canadian stocks. I see them as the lowest risk investment out of the entire Canadian stocks.

We could talk about how safe (or not safe) Canadian banks are in this thread : Safest stocks


----------



## john.cray

james4beach said:


> You might also ask Tangerine if they have a competing promo. Then go with whichever one has the highest rate for the longest time.


Right, I already opened a new HISA with Tangerine at 2.5% for a few months.
Rates overall have been coming down hard as per Comparison chart so those promotions are helping for the time being.


----------



## Eder

Added a bit more TD today to TSFA .


----------



## londoncalling

Nice. My order for TD missed the daily low by 3 cents.


----------



## nobleea

Rebought TECK and SPG that I had sold a few weeks ago for a 10-20% swing. Bought more AD


----------



## Borat

nobleea said:


> Rebought TECK and SPG that I had sold a few weeks ago for a 10-20% swing. Bought more AD


I'm down 16% on Teck as of today. Stock dropped 5% today alone. Are you buying more?


----------



## Spudd

I decided to take the plunge on SU. Hopefully it will be able to rebound. 

Also bought myself some TCL.A. They're a printing company which doesn't seem like a growth industry but their numbers say otherwise. We'll see how it goes.


----------



## nobleea

Borat said:


> I'm down 16% on Teck as of today. Stock dropped 5% today alone. Are you buying more?


Yes, might buy a bit more. My ACB is still in the mid 13's.


----------



## londoncalling

londoncalling said:


> Nice. My order for TD missed the daily low by 3 cents.


Today the order filled at 58.33. Long term hold. Now my largest Canadian bank holding followed by BNS, BMO, RY and CWB. May still be a bit under weight financials but am happy with the current allocation. May deploy more cash in November depending on the US election turmoil and fallout. Perhaps this has already been priced into current market. Currently sitting at 10% cash in my equity portfolio with some addtional GIC money(would bring this up to 15%) sitting in cash waiting to move over from my financial institution should the need arise.


----------



## Pluto

agent99 said:


> I had been looking at TD. Was surprised that it had that high a yield. Which of course means stock price down compared with other majors like RBC. Maybe because of high US exposure?


Is TD making money right now? I think they had a loss recently, but I'm not selling. Never fear.


----------



## Pluto

I'd like to buy some more BABA, but I ran out of cash.


----------



## Pluto

Pluto said:


> I'd like to buy some more BABA, but I ran out of cash.


I should add that BABA will own a chunk of ANT. ANT is in the process of the largest ipo in history.


----------



## londoncalling

Started a position in US transportation(Rail and Shipping) manufacturer Greenbrier Integrated Railcar Manufacturer & Services Provider | Greenbrier at $26.12. Expecting more volatility and have a few more orders in the queue for CNR and US banks


----------



## james4beach

I bought a large amount of XBB (bonds), and slightly smaller amounts of XIU (Canadian stocks) and ZSP (the S&P 500)


----------



## newfoundlander61

Watching TRP, regardless if the pipeline is approved I am thinking under $50 would be a buy for a long term dividend hold. Who knows for sure but maybe the decision to cancel the pipeline is already being reflected in the current price?


----------



## Retiredguy

I added more @52.90 late last week as long term hold.


----------



## Eder

Another 500 TRP ...yielding over 6% after this sell off. My 1st buy of TRP since 2010.


----------



## JosephK

Added to my GH position. Even with the covid closures they are still turning a profit and will likely soar once all this is behind us.


----------



## dubmac

Eder said:


> Another 500 TRP ...yielding over 6% after this sell off. My 1st buy of TRP since 2010.


Wow. You're inspiring me Eder. I first put my stake in the ground with TRP around that time too...and have not added much since. 
Obviously, you see a good days ahead for TRP.


----------



## Eder

Just buying on a pull back...imo TRP has a long road of expansion in front of it & the muscle to make it happen. There's more to their story than oil & KXL and I'll enjoy the yield & dividend increases along the way. They are a good way to diversify out of Canada without giving up the dividend tax credit or the dangers of forex drift.

Wow...I think I convinced myself to buy more lol.


----------



## like_to_retire

Eder said:


> Just buying on a pull back...imo TRP has a long road of expansion in front of it & the muscle to make it happen. There's more to their story than oil & KXL and I'll enjoy the yield & dividend increases along the way. They are a good way to diversify out of Canada without giving up the dividend tax credit or the dangers of forex drift.
> 
> Wow...I think I convinced myself to buy more lol.


I wonder if ENB maybe had more upside than TRP?

ltr


----------



## dubmac

like_to_retire said:


> I wonder if ENB maybe had more upside than TRP?


Perhaps. 
Waiting for ENB to improve is like waiting for the next earthquake. Seems to never happen, and despite the odd surge of activity, seems to fizzle. It just does not seem to be a sustainable dividend - they took on too much debt. 
I wish they'd do the right thing and cut the dividend and right size their finances. I'm OK with the expected drop. I used to think buying in the mid-30's was a real coup - now I just yawn.


----------



## OptsyEagle

dubmac said:


> Perhaps.
> Waiting for ENB to improve is like waiting for the next earthquake. Seems to never happen, and despite the odd surge of activity, seems to fizzle. It just does not seem to be a sustainable dividend - they took on too much debt.
> I wish they'd do the right thing and cut the dividend and right size their finances. I'm OK with the expected drop. I used to think buying in the mid-30's was a real coup - now I just yawn.


If I have to wait for improvement, it is always nice to have a 6% to 8% dividend while I am waiting. Makes the time go by a little better.


----------



## Eder

like_to_retire said:


> I wonder if ENB maybe had more upside than TRP?
> 
> ltr



I think so too but have a full position of ENB already.


----------



## OptsyEagle

These are great bargains but for myself I have enough investments related to energy. It makes up maybe 7% of my portfolio and all are helpers in the energy game as opposed to producers. Names like ENB, PPL, IPL, KEY and a small position in PSD.

That said, it is news like this that keeps me from loading up more no matter how much of a bargain these stocks begin to exhibit. 









UK plans to bring forward ban on fossil fuel vehicles to 2030


Announcement expected in autumn to help trigger green economic recovery from Covid-19




www.theguardian.com




.

No more gas driven cars in the UK after 2030. That is only 10 years from now. Will other countries do the same? It seems to be the writing on the wall.


----------



## like_to_retire

OptsyEagle said:


> No more gas driven cars in the UK after 2030. That is only 10 years from now. Will other countries do the same? It seems to be the writing on the wall.


Yeah, I just read this morning that _the sale of new gasoline-powered vehicles will be banned in Quebec from 2035__, reveals Environment Minister Benoit Charette in an interview with The Press_. That only 15 years...

But, that's still lots of time to make money on pipelines I would think. After that 15 years, there will still be another 10 years of used cars, and the ban isn't on transport trucks either. That's a lot of years with a stock like Enbridge with its 8.7% dividend to fill your pockets. I see some decent upside available on the share price and it seems that Line 5 problem will probably go away.

ltr


----------



## AltaRed

I commented in the Energy Sector thread on these issues. Worthy of a look there especially references to the BP link on their three scenarios as regards oil specifically. The biggest risk to me is the completion of KXL for stranded capacity somewhere not too far down the road, certainly before the end of 20 firm shipping contracts.


----------



## like_to_retire

AltaRed said:


> I commented in the Energy Sector thread on these issues. Worthy of a look there especially references to the BP link on their three scenarios as regards oil specifically.


Alta, you know a heck of a lot more about this than I ever will, but I've seen analysis like that before and it all seems to hinge on renewable wind and solar providing consistent reliable power in the future. The graphs in the article just show it ramping up and up and up.

As far as I can see today, these renewables still require fast ramp up complementary generation sources like natural gas to take their place since there's no real solution to that much power storage available - yet. That's the unknown variable. 

I have no doubt renewables can increase their percentage of our grid, overcoming headwinds like high initial capital costs, siting and land availability, transmission infrastructure changes to multiple sites rather than the centralized system we have now, and of course the push back from the conventional oil industry "old boys". All that can be overcome in time, but we still don't know how to store that much power yet. Am I wrong?

ltr


----------



## AltaRed

There are a lot of headwinds to cost efficient renewable power, particularly storage for the unpredictability of wind and solar and the costs of distribution. but the cost of generation itself has come down dramatically. We also must look beyond our borders to the rest of the world in terms of how they will move people around. Much has been mentioned about how the developing world will be hungry for energy as they desire a western style standard of living, but that may be more oriented to industrial and heating/AC use and oil is not used for that anyway. Land use transportation is the big component of oil demand, and like the skipping of land lines in telephone, they might mostly skip use of personal vehicles too. It's happening already in our society with Gen-Zers as an example.

My view is it won't be as optimistic as BP's Rapid Transition scenario but it won't be Business As Usual. Global demand for oil will go down.


----------



## MrBlackhill

Just bought a micro cap (or should I say a nano cap?) just for fun and to see where it goes. RIWI


----------



## like_to_retire

MrBlackhill said:


> Just bought a micro cap (or should I say a nano cap?) just for fun and to see where it goes. RIWI


It might go up and it might go down.

ltr


----------



## MrBlackhill

like_to_retire said:


> It might go up and it might go down.
> 
> ltr


It might end as a penny stock at 0.05$.

But it's not all speculative. I'm wondering how it'll go considering it has nearly no debt, it's currently profitable, its P/S and P/B are decent, its P/E is a bit high but nothing to worry considering the context, its RoE is great, its profit margin and operating margin are good. Insiders hold 50%. I'm also pretty interested by their tech.

It's a very small company, but I'm interested to see if these fundamentals (which I believe are good - as a beginner in stock-picking) combined with that kind of industry can be a good bet for me as an investor.


----------



## like_to_retire

MrBlackhill said:


> It might end as a penny stock at 0.05$........it has nearly no debt, it's currently profitable, its P/S and P/B are decent, its P/E is a bit high but nothing to worry considering the context, its RoE is great, its profit margin and operating margin are good. Insiders hold 50%.


Yeah, this is pure gambling and the smart money says with respect to this type of investment don't spend much time on all the wonderful stats you've offered. There will be no institutional uptake on a stock like that, so it's all speculators betting against speculators.

ltr


----------



## MrBlackhill

like_to_retire said:


> Yeah, this is pure gambling and the smart money says with respect to this type of investment don't spend much time on all the wonderful stats you've offered. There will be no institutional uptake on a stock like that, so it's all speculators betting against speculators.
> 
> ltr


It's a try. This year, I've bought 3 stocks when they were a market cap around $300M and I managed a +26%, +57% and +265%. (I'm not counting those who crashed down to a market cap that low, only those who were growing. For instance, I'm not counting SCL which is down to a market cap around $200M at the moment, but once was a billion-dollar cap [yet I'm up +59% on that one])

But then I must admit a gave a try to a penny stock (<1$) with a market cap around $200M and I'm currently losing -27% on that one, but we all know the ups and downs of those stocks are amplified. Though I didn't dump it because I believe it has a future, otherwise I wouldn't have bought it. It's the kind of stock I could hold for years unless my sentiment changes based on news or fundamentals.

So now I decided I wouldn't go below 2$ stocks but I had to give a try to a $50M market cap. Honestly, I don't put too much hope on it.

So far, my best picks have a market cap below $2B but above $300M. My worst performers have a market cap over $5B.

But all that is just based on my picks for this year only during the COVID crash, so it's all biased by my buying the dip for some and by the bullish sentiment for others.

We'll see, I'll update my thread about my portfolio around the end of the year. You'll witness my good and bad moves as a beginner.


----------



## Johnny199r

I'm an indexer, but I recently bought some Mawer global small cap fund. The fund has a MER of 1.73%, but the fund has been straight fire for several yeasr and I've read recently that small caps have lots of room for growth. The MER isnt as important as consistent above average returns, so we'll see how it works out.


----------



## Eder

I added RioCan to my RRSP today....haven't owned it since 2016. Its part of my plan to not buy any GIC's under 2% yield , instead I will use REIT's. I have more GIC's maturing soon and hope the REIT sector doesn't bounce too much before then.


----------



## scorpion_ca

Eder said:


> I added RioCan to my RRSP today....haven't owned it since 2016. Its part of my plan to not buy any GIC's under 2% yield , instead I will use REIT's. I have more GIC's maturing soon and hope the REIT sector doesn't bounce too much before then.


Why don't you buy REIT ETF such ZRE or XRE?


----------



## Eder

scorpion_ca said:


> Why don't you buy REIT ETF such ZRE or XRE?


I'm a bit selective on which REIT I want to be partners with. I only own Choice and now RioCan.I have a couple others I like but it the most important thing in this sector is what I don't buy imo.


----------



## scorpion_ca

Eder said:


> I'm a bit selective on which REIT I want to be partners with. I only own Choice and now RioCan.I have a couple others I like but it the most important thing in this sector is what I don't buy imo.


Okay...


----------



## Eder

So I should buy high? I feel the dividend is telling me that either RioCan is a crummy,at risk company...or it is out of favour and under valued due to the Covid crisis and online shopping?


----------



## MrBlackhill

MrBlackhill said:


> I wasn't planning on buying anything more this year, but I ended up buying a bit of REAL.TO today. I plan to do other purchases tomorrow maybe. Then I'll be done for the year.
> 
> I should've waited a bit more as it may continue to drop, but I want to hold it long so I'm ok with that.


Interesting. I bought near a local bottom but today they had great earnings report but dropped -15% right away.

What's interesting is that I watch how my portfolio of 17 stocks and 1 ETF (all TSX) is reacting to the current swings of the market during these times of high volatility. I'm trying to beat NASDAQ while having only TSX stocks (so far) and less tech exposure. I obviously don't think I'll beat NASDAQ long term, but who knows...

7 months later, I'm following NASDAQ quite well, but that's the beginner's luck because the market has been pretty bullish after the crash.

In the last couple of days, I'm on a strike beating NASDAQ every day. Now I have this REAL holding (mid-size in my portfolio) that dropped -15% but my portfolio is currently up +0.16% while NASDAQ is up +0.15%.

That's why I don't want to hold big indices or too many stocks, it's useless. Just pick enough in a pool of winners and even a sudden loser won't effect that much the overall portfolio.

Anyways, I plan to add some small ETF for global diversification like DXG holding only about 25 stocks diversified in every sector worldwide and performing awesomely. My style is stock-picking and ETF-picking. Other strategies aren't bad, they are just adapted to other investment styles which fits the personality of the investor.


----------



## gardner

Speaking of REITs, after being cashed out of NVU, I took the money and bought ZRE. I never intended to use a REIT ETF, but I have been stumped what to buy in the sector. I still own BPY, AX, HR, REI, FCR but as of today, ZRE is 25% of my REIT allocation.


----------



## dubmac

I own both ZRE and REI.UN.
The REI.UN chart tells the story - not a pretty picture. I've been reading their press releases. the CEO is retiring and being replaced, but that won't make the virus disappear! Last I read was that they were receiving more overdue rent payments (I thought I saw 90% recovery?). That said, I think I saw news that announced rent freezes for the next 8-12 months - which could also put a lid on returns from REIT's - at least those that invest in apartment buildings.
ZRE has been very good and reliable - so much so that I am considering moving $ from a GIC ladder and buying more in Feb 2021. GIC ladder


----------



## Eder

I agree with the horrible chart...Rio Can was flat lining long before Covid. Yet like beaten down pipeline stocks Rio Can value will be not the empty Reitman stores failing to pay rent, but the prime real estate locations they own. Will be a long road for them to redevelop . Price/book is 30% below long term average. 

Man...I think I've talked my self into buying more.


----------



## Yasehtor

Johnny199r said:


> I'm an indexer, but I recently bought some Mawer global small cap fund. The fund has a MER of 1.73%, but the fund has been straight fire for several yeasr and I've read recently that small caps have lots of room for growth. The MER isnt as important as consistent above average returns, so we'll see how it works out.


Definitely a quality fund with a great track record.


----------



## james4beach

dubmac said:


> I own both ZRE and REI.UN.
> The REI.UN chart tells the story - not a pretty picture. I've been reading their press releases.


Thought I'd take a look since it came up. I'll put on my technical analysis hat.

This multi-year chart does not actually look too bad to me. It was fine before COVID. And yes, it dropped sharply, but this was an external and unforeseeable shock. Since then, REI.UN has actually rallied back above its 200 day moving average.

The 55% drawdown is rather severe, worse than the broad stock market, but this was one of the unlucky sectors which was hit hard due to the nature of this particular disaster.

Not a great chart by any means, but it also doesn't have the multi-year pattern of declines which is typical of companies which are "toast".


----------



## AltaRed

I've been a long term holder of REI.UN. Not the best investment I've owned but they have clearly up'd their game with shedding assets in secondary markets and starting the re-development of their prime locations into multi-use projects, e.g. condos/commercial. Huge parking lots which can be reclaimed into multi-family housing. It simply takes years to plan, re-zone and re-build, funding disproportionately more of it with retained earnings than strictly debt or yet another share offering. I think it will be a long term winner but it is a multi-year journey.

Clearly I will hold, simply because I firmly believe it is substantially under-valued at this point.


----------



## MrBlackhill

Decided to jump in CTS.V


----------



## nobleea

MrBlackhill said:


> Decided to jump in CTS.V


 That's one of my dream cars. The 2016-2018 version.


----------



## MrBlackhill

nobleea said:


> That's one of my dream cars. The 2016-2018 version.


Haha! Unfortunately I didn't jump in that car, no.


----------



## Gotime

scorpion_ca said:


> Okay...
> 
> View attachment 20857


This is a nice max timeline graph, but if I had put my money in something like ZRE in early June (after the general market rebound) when I invested in a bunch of REITs, I would be much poorer. 

Went heavy on HR Reit (up 42% currently), REI I got in October (up ~20%), and I got into MRT.un recently which is up 25% in 2 weeks. Hot.un also went up 40% in a few weeks (my stop order ditched that yesterday down a few %)
My ZRE is up 19% since roughly early June (respectable, but worse than all of the banks I got in May as well...)

The above is just anecdotal, but I have found that index funds, reit etfs, etc, have had much lower gains since May or June's general rebound. Lost opportunities with the vaccine hype and rebound. 

I have since reduced or eliminated some of the reit positions since I think they're mostly "caught up" and are not really things I would typically hold long-term.


----------



## Eder

Looks like my Rio Can buy was poor timing...they announced a 1/3 cut to their divy...I'll look to dump or if they get hit hard may buy more tomorrow.


----------



## dubmac

ouch....

I'll probably, and quietly dump this one sometime in the next few weeks. I didn't have a big position - only 250 shares - but all the same, a little disappointing.


----------



## AltaRed

Disappointing but they are doing the right thing to re-direct more of their cash flow into multi-use re-developments. It will pay off in a year or so notwithstanding they may permanently lose some tenants like Cineplex. I see no reason to 'cut and run' if they can re-deploy capital effectively.


----------



## james4beach

Eder said:


> Looks like my Rio Can buy was poor timing...they announced a 1/3 cut to their divy...I'll look to dump or if they get hit hard may buy more tomorrow.


When did this announcement happen? I see normal trading on REI.UN. Was it after the close?


----------



## MrBlackhill

james4beach said:


> When did this announcement happen? I see normal trading on REI.UN. Was it after the close?








RioCan Real Estate Investment Trust Announces One-third Reduction in Distributions to Unitholders


TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) - Today, RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) announced a reduction of RioCan’s monthly distribution to unitholders from $0.12 per unit to $0.08 per unit, or from $1.44 to $0.96 on an annualized basis. RioCan’s Board...




investor.riocan.com





After close. Current comments are split. Some say it's bad management and that they should've done it months ago, not when the stock is rising. Some are angry to get a cut. Some think it's a good idea. Some people may switch to BPY, others may switch to HR, and others will hold.

Hard to tell what will happen. When HR cut their dividends back in May, the market actually went bullish. But we are now in December, the timing seems awkward to me.


----------



## Eder

I decided to cut & run. Reducing a dividend is not a good sign. I still like their business and will buy again 25-30% lower...around $13. Lets see if they get there.


----------



## james4beach

Eder said:


> I decided to cut & run. Reducing a dividend is not a good sign. I still like their business and will buy again 25-30% lower...around $13. Lets see if they get there.


The market barely flinched today. Interesting. And what if it never goes down to $13? What if this is the lowest price you'll ever see for REI.UN ?


----------



## Eder

I can easily live without REI, there is a smorgasbord of well priced REIT's out there right now to filter through. I added REI for the stellar (in my mind) management team. I was wrong.

You may be right that $17.50 is the bottom as the NAV is much higher, but if cutting the dividend is not a strong sell signal I don't know what would be.


----------



## MrBlackhill

Eder said:


> if cutting the dividend is not a strong sell signal I don't know what would be


Some are bearish on that kind of news, some are bullish. When HR cut its dividend back in May, the overall response was bullish.


----------



## Gotime

MrBlackhill said:


> Some are bearish on that kind of news, some are bullish. When HR cut its dividend back in May, the overall response was bullish.


Bullish about HR after the cut? Maybe a slight uptick because the price was already trashed. I bought a lot of this stock under $10 in May and it did almost nothing until November, hovering down close to 50-60% from highs. In my opinion, there was nothing bullish about this beaten down stock until vaccine news.
But it eventually paid off (for now).


----------



## doctrine

james4beach said:


> The market barely flinched today. Interesting. And what if it never goes down to $13? What if this is the lowest price you'll ever see for REI.UN ?


While RIOCAN didn't crash, it certainly underperformed the REIT index on Friday, and remains down 30% year to date when the index is down maybe 2%. HR Reit, who also cut is also down 25% still year to date.

So when you think about that Riocan and H&R REIT are big parts of the index, it's clear investors aren't happy with their prospects at all - the index would be up year to date without them included. 

So despite the lack of sell-off, these dividend cutters are not outperforming by any means.


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## MrBlackhill

Gotime said:


> Bullish about HR after the cut?


Well, in April and May, HR was playing around $9.35. And then, from June to October, HR was playing around $10.20.

The stock was in a plateau of high volatility around $9.35 and after the news, it went made a move on the up side to go in a plateau of high volatility around $10.20, which is about +10%. That's what I meant by "bullish". It made a move on the upside instead of making a move on the downside. The dividend cut didn't affect negatively the sentiment for the stock, on the contrary, it actually climbed a step.

It was not on a bullish run, but it made a bullish move.

I may have used the word "bullish" to some extent. I agree it was a bad choice of word.


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## MrBlackhill

doctrine said:


> While RIOCAN didn't crash, it certainly underperformed the REIT index


That's a good point, but it seems like each stock of the REIT index reacted differently. Some are still beaten down, some almost recovered, some are positive...


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## Johnny199r

I've recently bought some XUU, XIU and XEQT.


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## Investor87

bought some ARKK, ZSP and ZNQ


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## Calgary_Girl

AcuityAds Holdings (AT.TO). I’m up over 200% in 2 months and enjoying the ride the past couple of days 🤑.


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## MrBlackhill

Calgary_Girl said:


> AcuityAds Holdings (AT.TO). I’m up over 200% in 2 months and enjoying the ride the past couple of days 🤑.


The momentum is huge on that stock. It's currently at +75% since the beginning of the week. I was watching it and I wanted to enter on Monday when everything looked calm. I was aiming for $9. Missed it and now we're Thursday and it's trading at $16.


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## dubmac

MrBlackhill said:


> The momentum is huge on that stock. It's currently at +75% since the beginning of the week. I was watching it and I wanted to enter on Monday when everything looked calm. I was aiming for $9. Missed it and now we're Thursday and it's trading at $16.


Does the company make any money/profit?


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## MrBlackhill

dubmac said:


> Does the company make any money/profit?


They made profits in Q1 and Q3 this year.


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## Calgary_Girl

MrBlackhill said:


> The momentum is huge on that stock. It's currently at +75% since the beginning of the week. I was watching it and I wanted to enter on Monday when everything looked calm. I was aiming for $9. Missed it and now we're Thursday and it's trading at $16.


Yes, it’s been exciting to watch this week. My average cost is $4.17. Once it lists on NASDAQ who knows how high it will go? 😁


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## MrBlackhill

Calgary_Girl said:


> Yes, it’s been exciting to watch this week. My average cost is $4.17. Once it lists on NASDAQ who knows how high it will go? 😁


I'm very happy for you.


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## depassp

Calgary_Girl said:


> AcuityAds Holdings (AT.TO). I’m up over 200% in 2 months and enjoying the ride the past couple of days 🤑.


How did AT.TO initially get onto your radar?


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## Calgary_Girl

depassp said:


> How did AT.TO initially get onto your radar?


Through Motley Fool actually. I originally purchased it in July at $1.63 and then bought some more in October when their new software Illumin was released and the buzz around it was very positive. The past week has been a crazy ride. This could bump up our early retirement by a year (or two).


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## MrBlackhill

Calgary_Girl said:


> Through Motley Fool actually. I originally purchased it in July at $1.63 and then bought some more in October when their new software Illumin was released and the buzz around it was very positive. The past week has been a crazy ride. This could bump up our early retirement by a year (or two).


Do you have a strategy on what could trigger a decision to sell? I don't know how long I'd hold a stock increasing daily by +10% to +20%... At some point, it'll be considered overvalued, but what's that point...


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## Calgary_Girl

MrBlackhill said:


> Do you have a strategy on what could trigger a decision to sell? I don't know how long I'd hold a stock increasing daily by +10% to +20%... At some point, it'll be considered overvalued, but what's that point...


Right now that’s the million dollar question. I don’t want to sell before year-end due to the taxes I’d have to pay. Also, I want to see what happens to the stock after it lists on Nasdaq. A part of me is saying don’t be greedy but the other part is saying this could be a once-in-a-lifetime opportunity so don’t blow it!


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## MrBlackhill

I bought Haivision (HAI.TO). Why? I had to add this to my playground.

So far, I've bought :

TSXV stocks going TSX
Nano-cap stock
Penny stock
Contrarian stocks
All for experimentation purposes. But I never bought a stock that recently IPO'd, so that's why I bought Haivision. I wanted to add this to my experiencing.

I guess it may drop a lot since the IPO was at $6 and it's now already at $11 within a few days.

I bought it because it is profitable, scalable, international and it's growing with acquisitions.

I could do my playground with paper trading, but nothing beats the feeling when real money is in play.

And if my playground were only paper trading, my current +42% since mid-April would be worthless. I never though I would add 5 figures of profits (unrealized) this year with my 5 figures invested. At this point, my whole portfolio could crash -30% and I wouldn't have lost any money. That's why I allow myself to try stuff and play around.

Next year, I'll be more cautious and add diversification through some ETFs.


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## m3s

MrBlackhill said:


> I bought Haivision (HAI.TO). Why? I had to add this to my playground.


Never realized this was a Cdn company. I've seen Haivision products used for military video streaming


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## MrBlackhill

m3s said:


> Never realized this was a Cdn company. I've seen Haivision products used for military video streaming


Didn't know either. It seems like they have a presence in almost every industry big in cash. It contributed to my confidence in the stock.









Customer Success


Browse case studies & customer success stories about how organizations use Haivision's enterprise video and streaming solutions to succeed in their industry




www.haivision.com


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## R. Austin

Considering dabbling in a little ZRE; would be a long-term hold so if it drops more, not the biggest issue.


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## m3s

MrBlackhill said:


> All for experimentation purposes. But I never bought a stock that recently IPO'd, so that's why I bought Haivision. I wanted to add this to my experiencing.
> 
> I guess it may drop a lot since the IPO was at $6 and it's now already at $11 within a few days.
> 
> I bought it because it is profitable, scalable, international and it's growing with acquisitions.


I snuck in under $10. So far so good!

My only other IPO is still underwater. I'll be watching for the Coinbase IPO sometime this year but imagine it will be overbought out of the gate

Maybe HAI did well because it is lesser known


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## MrBlackhill

m3s said:


> I snuck in under $10. So far so good!
> 
> My only other IPO is still underwater. I'll be watching for the Coinbase IPO sometime this year but imagine it will be overbought out of the gate
> 
> Maybe HAI did well because it is lesser known


Nice job, I bought in the $11s unfortunately but now it's all behind me with the price soaring to $16. I hope it will keep its current level.


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## Eder

I took today's face plant to buy a couple hundred of Bill Gates CNR .


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## Jimmy

agent99 said:


> Don't know. Maybe for clients of Scotia?
> 
> HOWEVER, you could try this (Just found this out today!)
> 
> 
> https://gpag.scotiawealthmanagement.com/content/uploads/sites/2/Daily-250.pdf
> 
> 
> 
> Try different numbers in the url after Daily-
> 250 happens to be last Friday (Aug 28th). It is supposed to be daily, so you could try and figure out their numbering system  If you back off by 5 to 245, you would think that might be Monday 24th, but it comes up with Thursday 20th. Daily-1 was 6 Aug 2019. So not issued daily. Still, we can get close by trial and error! Or just print a slightly earlier version and look up the current prices on-line.


Hi Agent,

I was using the link and it looks like it ends on day 449. Do you still use this or do you know of another PS report? pls advise. Just bought some BOP.PR.C ytr about 5.4 %.


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