Yesterday I sold off some of my VFV ETF and bought 5K worth of Constellation Software (CSU). Time will tell if it was the right move at the right time. CSU has recently sold off after a disappointing earnings report. I consider CSU to be one of Canada's best growth companies and worthy of adding to my RRSP.
I don't do detailed analysis of individual companies so I'll leave that up to you to determine if it fits your personal investment objectives, your own risk tolerance, time horizon, expected return and whether you invest for growth or income or both.
It has been said that CSU is a millenial's stock. I'm a retiree and I bought it. What that means is that you should ignore professional money managers when it comes to companies you should buy. I consider this purchase as exactly that. I'm buying a piece of one of the great companies in Canada.
Gambling Portfolio
Currently holding NVO and OSK in an open unregistered trading account. I have abandoned my buy on Monday and sell on Friday investment strategy. I didn't like that tight of a time horizon. It might work well in a roaring bull market environment but right now, when stocks are moving up one day and selling off the next it doesn't. This is how the gold market is behaving lately.
NVO 0.5%
OSK 3.8%
Both slightly down since purchase.
My Gold Stock Watchlist
AR 8.8%
YRI 0.7%
TGZ 8.9%
GSV 13%
MUX 2.7%
PVG 9.1%
As you can plainly see this watchlist is down collectively 3% and on an equal weight dollar basis down $792.00.
I believe one of the most important rules of speculating in the stock market is to cut your losses early. I try and keep it to between 7-8% and never more than 10%. When you've made a mistake and the trade is NOT working, sell and move on. It will be easier for you to recover than waiting for your stock pick to gain 25% so you can break even.
"Preserve your hard earned money at all costs" is what William J. ONeil advises in his book 'How to Make Money in Stocks'.
This is why he uses a 7-8% max loss rule. I think it's a good one. This allowed me to sell AAV when I did.
My RRSP
This is boring stuff as it is mainly composed of DG Canadian Stocks in equal dollar amounts. I hold one ETF mentioned earlier and that is VFV for US exposure. The rest is;
CSU, BCE, BMO, BNS, CM, CNR, CP, ENB, FTS, RY, TD and TRP.
Tricia RRSP
BCE, BMO, BNS, BIP-UN, CM, CNR, CP, CU, ENB, FTS, RY, TD, TRP and XAW for Int'l exposure.
LIRA
MAW104, FTS and RY. This belongs to my wife and I documented why the mutual fund here.
I will purchase more growth/income DG stocks for our retirement accounts as new money becomes available. We also have smallish TFSAs right now sitting in cash. Investments will be made as the cash balances grows.
My Buy List of Canadian Growth Stocks
I am tracking another list of what I believe are great Canadian companies that are making money and are worth a look for purchase. They are;
ATD-B, DOL, DSG, GSY, TC, TOY and OTEX. They all make money and are great capital allocators and have done really well for shareholders. I will leave the due diligence for you and whether you think they are an appropriate investment in your situation. I will be looking to take positions in the future as money becomes available.
In Sum
I like to pick stocks. I find it exhilarating when I'm right. This is just me and what I like to do. We all have our own reasons why we do what we do. I try and document my winners and losers. RRSP and LIRA stocks are core holdings and I only add to what I have. I don't trade much within these accounts.
What are your favourite stock picks?
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