Monday, August 25, 2014

Markets on a roll

The markets are still on a roll and to a certain extent I have missed some of the action. Am I sorry? Not really. Having a good chunk of my money sitting on the sidelines earning a little interest means that if there is a correction, I am ready.

Having the majority of my money invested in the market means I am enjoying some nice returns. My Aston Hill Financial is up more than 12.4 percent since I bought it just weeks ago. My Bank of Nova Scotia which I bought years ago is up 158 percent this morning. My Chartwell Retirement Residences is only up about eight and a half percent but it does pay a nice dividend and so I am quite content with my investment in this Canadian REIT.

One big shadow is Norbord. It is still down about ten percent since I bought in. Today some U.S. housing numbers are to be released. If they are positive, I might see NBD climb back up to where I bought in. I've decided to be patient with NBD. At some point, it will take off and I want to be there for the ride. In the meantime, it pays a nice dividend as a reward for waiting.

I hold all my NBD stock in my tax free savings plan. I only started my account about two years ago. The plan as a whole is up 24.375 percent. When I view my NBD investment in the context of the entire TFSP package, it does not seem a big problem. If one is going to invest in the market, one has to keep the big picture in view and not get too hung-up on this investment and or that one.

The only other acquisition I have made in the past year and still have on my books is Dream Office REIT (D.UN). Like Chartwell, it has climbed a little but the gains have come mostly in the form of the monthly dividend. D.UN is a classic dividend paying investment. Someday, when my RSPs have been weakened by withdrawals demanded by government regulations, D.UN will form a core holding in my income generating portfolio of stocks and fixed investments.

Am I looking to buy something soon? I'm always looking but I would not be surprised if I sit tight and enjoy my present holdings while waiting for the inevitable correction.

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