So here’s a bit of an update for what’s going on in October. Most importantly, I achieved my objective of maximizing my RRSP! Woop!
And with the extra contributions I have been hard at work.
You can see here which stocks were already on my radar. I decided to go ahead and buy some shares of Alimentation Couche-tard (ATD.B), 21 shares to be precise. I also increased my position in Dream Global REIT (DRG.UN) by 71 shares, which pays a hefty monthly dividend and has nice exposure to Europe.
Then, I hesitated as to where I would invest the last of my RRSP cash. After writing this article, Metro (MRU) agreed to buy Pharmacie Jean Coutu (PJC). I felt bittersweet after hearing this and at first I didn’t think it would be a good long-term play. After reconsidering, maybe the preexisting exposure to pharma by Metro (they own the Brunet line of pharmacies) could give them a symbiotic advantage when merging with the pharma giant Jean Coutu… who knows.
As stated in earlier articles, I am constantly looking to diversify on a macro level. Asia, South America, Europe… I was looking at the ETFs FTW and CN for their exposure to Asia but felt these were overpriced at the moment. I do love their distribution and concentration in Tech. Both Asia and Tech are underrepresented in my current portfolio. These will eventually make a great investment for me, but the timing doesn’t seem right.
Only fools don’t change their minds!!
I went with a small position (12 Shares) in Metro (MRU) and I’ll see where it takes me. I’m always in it for the long run anyways.
Meanwhile in my TFSA, I have been accumulating some change, either from non-DRIP dividends or from DRIP leftovers. So I have taken advantage of the dip on Savaria (SIS) in the beginning of October to buy 8 more shares! Surprise surprise… it’s going back up.
So ends my yearly RRSP contribution. Unless I sell an existing position (highly unlikely), the only purchases will be made through DRIP for the rest of the year. Now I play the waiting game, and reap the rewards of my contributions.
How’s your month going so far boys n’ gals? Let’s see it!
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