Thursday, November 10, 2011

Placed a bet on the Royal Bank

I did it. As I suggested yesterday, I picked up 100 shares of Royal Bank (RY) at $45.01. This should give me a yield of 4.8 percent. As this investment is inside my TFSA, this is untaxed income. I will get to keep, or spend, it all.

Will I lose my shirt in the short term? Should I have waited? (Hey, at the close I had already lost a dollar.) At the best of times it is damn hard to time the market. In the economic climate today, I think it is impossible.

Now, what to buy next? I've still got a little cash itching to be invested sitting in my TFSA.

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