Quote:
Originally Posted by Jim Blake
SOBO is sure having a good day. Both TRP and SOBO have done well since the spinoff.
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Jim - Since you posted this Oct 18th, both SOBO and TRP have had a great run. Anyone who held onto their SOBO shares, and/or added to them, will be smiling large right now. TRP has also gone up significantly, was trading at $60-$61 at the split, now over $69.
One point about buying Canadian stocks on the U.S. markets, to be clear this does not insulate you from a dropping Canadian dollar. The price of a Canadian stock is determined in Canadian dollars, to get the U.S. price of the stock, you just apply the current exchange rate, so if the Canadian dollar drops, so does the U.S. price of that stock. What it does give you is access to U.S. dollars. Buying U.S. dollar stocks or ETFs on the U.S. market does insulate you, or buying things that are priced in U.S. dollars, like Gold, U.S. real estate etc., also insulates you.
BCE keeps shooting itself in the head. Raises a bunch of cash then spends it just as fast, despite saying the sale proceeds were going to debt reduction, and adds even more debt. No idea where the bottom is on this stock given their erratic behaviour. Not a large holding percentage wise for me but if I had realised how bad the board and exec were going to execute, I would have sold it all off, rather than adding at what I thought were good prices. The up side is, it will never go broke and like ALA, the share price will eventually come back, meanwhile you collect over 9% while waiting. Between BCE and AQN hard to tell who has the more dis-functional leadership right now.
TD is slowly rising from the beat down it got on the money laundering and other issues. With their U.S. asset cap, they have excess capital, so will be interesting to see what they decide to do with it.
BNS also has excess Capital as it unwinds its exposure to a lot of exposure to Latin America. Also interested to see what they re-direct their energy and Capital into.
Whining aside about BCE, anyone who has been in the market the last 12 months is a REALLY happy camper. A conservative, blue chip, Dividend paying portfolio is up 30% on a 12 month rolling average, and is paying about 5.5% overall in dividends on top of that. No bond or GIc holdings is coming close to that return.
Everyone who stayed out of developing markets, China and most of Europe is also very happy and has been for over 5 years.
Tax loss selling and buying of same, is on the horizon as the end of the year is fast approaching. I am looking at the portfolios and making a plan for the next month and a half, as well as the first couple of months of next year.
Merry Christmas to all.
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