Mr Market kept on climbing to higher grounds as months and years passed and I kept tucking away my hard earned money.
As the Market is suddenly falling off of his late pedestal, I thought I'd be happy to have been so patient throughout the years.
But was I? Not so sure If you remember a post that dates back to October intitled : How I deployed 20K$ into the Market.
There you have it : I completely mistimed the Market correction. Why? Because no one can. Not you, not me, not even Warren Buffet.
I guess, as a consolation, I have to be thankful to my new nibbling approach of buying stocks : a little bit a the time. (On the subject read this good post by fellow blogger Dividends in Hand).
This means I still have some cashflow to work with. Again, since I can't time the Market I will keep on nibbling and averaging down my existing positions making sure I keep myself a little bit of cash on hands since we don't know when we will hit rock bottom. 2017?
So far this week I purchased the following stocks:
- 25 shares of Enbridge (ENB) @ 40.43$. This adds 53$ in dividends to my passive income. I now hold 100 shares of ENB.
- 30 shares of Suncor (SU) @ 27.57$. This adds 34.80$ in dividends to my passive income. I now hold 250 shares of SU.
- 20 shares of Alimentation Couche-Tard (ATD.B) @ 57.31$. This adds 5.40$ in dividends to my passive income. I now hold 80 shares of ATD.B. ( I will get to 100!)
Overall, my buys total 2 984$. The new shares will add a total of 93.20$ annually to my Passive Income.
- I'm thinking more and more about getting back to holding less than 20 stocks. This was my original plan (holding 12-15 great companies). I have 22 now and I find it hard to track all of them. Do you? I might sell TransCanada Corp (TRP) and transfer the money to Endbridge. The latter is superior in my view and more involved with oil than natural gas. What do you think?
- Also, my Jean Coutu (PJC.A) position could be transferred towards BCE (BCE). My stake in this telecommunication giant (and the sector in general) is very small. I reckon my stake in both Johnson and Johnson (JNJ) and in Alimentation Couche-Tard (ATD.B) already cover pretty well my health and consumer staple sectors. What do you say?
- I sold my position in a small-cap pharma in Montreal called Knight Therapeutics. I still like the stock, but I need to focus more on dividend paying companies. I already own some companies like Canadian Pacific (CP) and Couche-Tard (ATD.B), to name these two, that pay a meagre dividends. I need fresh money coming in regularly (don't we all!).