What did you Buy? What might you buy? (2017)

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schmuck
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Re: What did you Buy? What might you buy? (2017)

Post by schmuck »

newin96 wrote:Have had TD on my target list for a while.
Couldn't resist the 5+% drop today as a result of the news.
Longterm hold.
Ditto.
Was sitting on the fence all day, but pulled the trigger shortly before the close. Not a huge amount, but ya gotta start somewhere.
Some consolation in the other banks making it through the day virtually unscathed, as it would be hard to believe that they're not using similar tactics to boost their sales targets.
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Re: What did you Buy? What might you buy? (2017)

Post by JaydoubleU »

Topped up my ENF position. It was down about 3% YTD for no particular reason that I can see, other than this rising rate fear.

Some analysts prefer the parent, ENB, however ENF has outperformed on a total return basis over one and five year periods. On a 10-year comparison, they are 11.35% ENF vs. 11.40% ENB. Virtually identical. Valuation wise, ENF is trading right around book, while ENB is at 2.9x. Finally, unlike many in the midstream space, ENF actually covers its high dividend on EPS, not AFFO.

There's also the 10% annual dividend growth target to 2019.

I expect ENB will announce a raise of just under 5% next quarter to deliver on its 15% promised raise for 2017. At this time, ENB may begin to outperform again. Plus a 10-12% dividend growth target to 2024 and that's the reason I own them both: one for high current income, and the other for more growth.
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Re: What did you Buy? What might you buy? (2017)

Post by kcowan »

Picked up another 175 shares of TD in premarket today. Wish me luck!
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Re: What did you Buy? What might you buy? (2017)

Post by Profit not Prophet »

WIsh me luck too lol. I bought 100 before the close Friday. Now a little overweight but I bought it in a tfsa account. My plan is to get my gain and go buy water of life from the old country perhaps, or dinners, all for me grog. aARRR
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Re: What did you Buy? What might you buy? (2017)

Post by westcoastfella »

added 150 more to TD holding this morning - its up a bit from Friday but still below my ACB so I'm happy. I've only put in 50% of what I was going to, so hedging my bets a bit that the bad news might not be over yet...
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Re: What did you Buy? What might you buy? (2017)

Post by Thegipper »

It wouldn't be the first time the CBC was wrong. It's not hard to find disgruntled former employees want to slander the reputation of their former employee. In a large organization there will always be a person in a position of trust who will betray that trust.
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Re: What did you Buy? What might you buy? (2017)

Post by kcowan »

No bounce today after the premarket. Lead balloon?

Could this really be serious? I know the bank employees are whiners when it comes to sales targets.
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Re: What did you Buy? What might you buy? (2017)

Post by Profit not Prophet »

Naw. Dollars to Donuts the local boss was a grump and they disgruntled. Two weeks from now it's forgotten. Even if it was as bad as the Well Fargo deal look where their stock is back at. (We have cold and snow, I envy your sunshine and retirement :)
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Re: What did you Buy? What might you buy? (2017)

Post by mrPPincer »

Profit not Prophet wrote:Naw. Dollars to Donuts the local boss was a grump and they disgruntled.
I'd take that bet :)

CBC radio followed it up with a phone-in.
I didn't hear it myself but word has it that the phone lines were all lit up and almost all of the callers were TD frontline disgruntleds from all across the country.
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Re: What did you Buy? What might you buy? (2017)

Post by BRIAN5000 »

This was only a 5% drop for TD, on average there are three 5% drops per year over the last 110 years, someone ring a bell when it breaks $55.
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Re: What did you Buy? What might you buy? (2017)

Post by jay »

Decided to over-weigh Empire TSE:EMP.A slightly and added a small amount to my position this morning at 17.9. Stock seems to be making a comeback.
Also started a new small (trading) position in Canam Group (TSE:CAM) in my RRSP. Stock has ridiculously low p/b and p/s values but can be a value trap. Hoping for some decent guidance soon.
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Re: What did you Buy? What might you buy? (2017)

Post by AltaRed »

I recall that Can-Am came up on BNN Market Call recently, and I believe that was the prognosis..... either a value trap or extremely cyclical.
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Re: What did you Buy? What might you buy? (2017)

Post by johnsmith1 »

I piled up stocks last Jan./Feb./March including EMP.A. it's a dog. But since announcement of new CEO(former Canadian Tire guy?) it's been making a slow comeback. I think they overpaid Safeway. Hopefully, they cut prices and lure more people to the store.

jay wrote:Decided to over-weigh Empire TSE:EMP.A slightly and added a small amount to my position this morning at 17.9. Stock seems to be making a comeback.
Also started a new small (trading) position in Canam Group (TSE:CAM) in my RRSP. Stock has ridiculously low p/b and p/s values but can be a value trap. Hoping for some decent guidance soon.
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Re: What did you Buy? What might you buy? (2017)

Post by brad911 »

That's part of their problem. Don't cut prices. You never compete on price. Don't invest in a company that does UNLESS they have a competitive advantage, and even then you only compete on price to take out the competition (if you can). Otherwise you'll make more $ selling your product or service at the same price as your competitor for likely a superior product or service
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Re: What did you Buy? What might you buy? (2017)

Post by Thegipper »

Dumped some losers bought more Shop, BUS and Proton Control. I am feeling good about all three. The narrative on all three looks strong.
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Re: What did you Buy? What might you buy? (2017)

Post by Arby »

Bought a bunch of US dollars (via Norberts gambit) to cover my snowbird expenses for next year. The US FOMC just announced a rate hike, and most financial prognosticators are predicting two more US rate hikes this year. In addition, the US economy is projected to grow faster than the Canadian economy. If those predictions are accurate, it won't be good news for the Canadian dollar. So I decided that now is a good time to buy my US currency requirements for the upcoming year.
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Re: What did you Buy? What might you buy? (2017)

Post by Thegipper »

mrPPincer wrote: 14 Mar 2017 15:24
Profit not Prophet wrote:Naw. Dollars to Donuts the local boss was a grump and they disgruntled.
I'd take that bet :)

CBC radio followed it up with a phone-in.
I didn't hear it myself but word has it that the phone lines were all lit up and almost all of the callers were TD frontline disgruntleds from all across the country.
I thought that entire show was pathetic. The CBC announcer was clearly a socialist with a hostility towards capitalism. The people phoning in were ranters and had little of substance to say. Some of them were lying. A number said they had been working in branches for years and weren't happy about some of the insurance policies they had sold to customers. I question that since banks are not permitted to sell insurance products through there branches. I think Rex Murphy would have wondered what has happened to his show. Some of the proposals for reform coming from the ranters were just plain stupid and totally unworkable. One person suggested that they should a MD at each branch to interview each senior to make sure they were competent and couldn't be deceived by the bank. Some complained because their loan application was turned down, some complained that they were upset because the credit limit was set to high on their CCs.

One thing was clear . There are a lot of people who are very poorly educated on money management and personal finance. The CBC solution seems to be some big nanny state to protect these poor souls from the evils of capitalism and the banks.
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Re: What did you Buy? What might you buy? (2017)

Post by jay »

Started a new (half) position in Stella Jones (TSE:SJ) at $38.67 this morning. Stock has gotten cheaper lately (it is close to the 52-wk lows, down ~27% from the highs of $53), has decent fundamentals and gives me a bit more exposure to Materials (I also own Cameco and Agrium). It is a bit more than I wanted to pay, esp. given the low yield, but their EPS growth should compensate for that. I would average down if the stock falls further.
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Re: What did you Buy? What might you buy? (2017)

Post by brad911 »

No opinion for or against Stella, but their EPS growth for 2017 is limited I believe. They guided lower which is why the stock has declined a little here. Long-term the company will likely do well, but I would expect it to get a little cheaper here.
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Re: What did you Buy? What might you buy? (2017)

Post by Peculiar_Investor »

Once again I'm buying bonds per our investment policy statement and asset allocation. Currently underweight fixed income by about 4% which is the edge of target range and the earliest space on our 10 year bond ladder** is 2023. I've been periodically poking around TDDI's offerings. Part of the challenge is filling a rung while at the same time avoiding the risk by over concentration on a particular company or sector.

Therefore holding my nose and filling the 2023 rung through the purchase of Inter Pipeline Fund 2.608% maturing 13-Sept-23 at YTM of 2.70033% in a registered account.

** In reality, the bond ladder currently is a 8.1 year ladder, lots of room in 2026 and so far nothing for 2027. Average maturity is 4.4 years and YTM of the whole thing sits at 2.51%.
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Re: What did you Buy? What might you buy? (2017)

Post by scomac »

Peculiar_Investor wrote: 03 Apr 2017 10:02
Therefore holding my nose and filling the 2023 rung through the purchase of Inter Pipeline Fund 2.608% maturing 13-Sept-23 at YTM of 2.70033% in a registered account.
:shock:

Gobsmacked that all you can earn with BBB risk is 2 and change for 6+ years! Are you not further ahead with a basket of junk on a risk/reward basis?
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Re: What did you Buy? What might you buy? (2017)

Post by Peculiar_Investor »

Possibly, but for the most part I take risk in the equity portion of my portfolio. It has taken me a number of years to finally accept that the purpose and risk profile of the bond ladder is something totally different.

Slight topic drift alert as I explain the rationale behind the buy. Once upon a time I just used an ETF tracking the DEX Universal Bond Index (or whatever it's called these days) for our fixed income allocation and accepted the market returns. That's still how I guide my adult children and almost everyone else.

Neither my spouse or I have a DB pension, so a number of years back as retirement appeared on the distant horizon, I decided to setup and manage my own 10 year bond ladder, as much for hands on education purposes as anything else. Each of the rungs on the ladder loosely matches our guestimate of post-retirement annual spending, i.e. a liability-matching setup.

For a number of years I hesitated and chased yields and the bond ladder had many incomplete or missing rungs. The low interest environment of the past number of years has been very trying, but ultimately educational. It is hard to push the "Buy" button on fixed income these days when you look at things on the absolute scale.
scomac wrote: 03 Apr 2017 11:29 Gobsmacked that all you can earn with BBB risk is 2 and change for 6+ years!
Totally agree if you look at the purchase in isolation. But my viewpoint is much larger in an overall portfolio context. This is just one needle and I'm watching the whole haystack. Heck, from higher level viewpoint, I struggled a bit with moving into the BBB realm, but for the semi-informed retail investor that's probably the best place to be shopping these days for fixed income, there is a small yield advantage versus GICs.
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Re: What did you Buy? What might you buy? (2017)

Post by scomac »

Peculiar_Investor wrote: 03 Apr 2017 11:53
scomac wrote: 03 Apr 2017 11:29 Gobsmacked that all you can earn with BBB risk is 2 and change for 6+ years!
Totally agree if you look at the purchase in isolation. But my viewpoint is much larger in an overall portfolio context. This is just one needle and I'm watching the whole haystack. Heck, from higher level viewpoint, I struggled a bit with moving into the BBB realm, but for the semi-informed retail investor that's probably the best place to be shopping these days for fixed income, there is a small yield advantage versus GICs.
I agree with you completely in the following quote: Possibly, but for the most part I take risk in the equity portion of my portfolio. It has taken me a number of years to finally accept that the purpose and risk profile of the bond ladder is something totally different.

So why BBB when the rewards are so limited? I've found out the hard way that BBB is a short step from junk and because of that the risk premium must be much higher. It is from that perspective that I asked the previous question. From my point-of-view I would see the yield ceded with a GIC as a small price to pay for the additional security that is consistent with the stated portfolio objectives.

[Added] I just checked with my discount broker and 2023 provincial strip bonds are going in the 2.0-2.1% YTM range so I suspect comparable to a GIC with the sought after term to be comparable.
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Re: What did you Buy? What might you buy? (2017)

Post by Shakespeare »

To quote Norm, "nickels in front of steamrollers".
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Re: What did you Buy? What might you buy? (2017)

Post by bindexit »

In past few months, added to holdings of:

-Valener Inc (TSE:VNR) around $21.50
-BMO S&P/TSX Laddered Preferred Share Index ETF (TSE:ZPR) around $11
-Claymore 1-5 Yr Laddered Corporation Bond Exchange Traded Fund (TSE:CBO) around $19.00

Re: CBO - Easy to manage for fixed income portion of portfolio. Wanted a bit more interest ooompph due to an unattractive low rate environment; I prefer Vanguard's equivalent for the MER but already have this one.
Re: Valener, ZPR: Really can't figure out what is better to buy right now and so opted for more of this. IMO equities in Canada appear overvalued.
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