I got in only slightly ahead of the bandwagon on the cannabis stocks - and am a total amateur to the investing world - but here are some thoughts based on my limited experience:
1. Use a TFSA and enjoy tax free profits... (*assuming there are profits!)
2. Qtrade, Questrade, or TD.
3. Buy and hold. Don't try to outsmart the day traders. Best left for the professionals IMO.
4. As was said above, it's best to do your own research and only invest in something you have confidence in.
5. Pay no attention to hindsight. It's super tilting when a stock you tried to get in on doubles the next day. (Had another one of these this week.... FACK!)
Sound very similar to me, check on #1, maxed both my own and my wifes..
Check on #2, TD Direct Investing was my choice.
Check on #3, 100% right, need to make sure the $10, per trade doesn't eat up any profits or, shudder, increase losses.
#4, read, read, read, but make your own decisions.
#5, yep, or you listen to your wife say, why would you buy that? when it is down 10% in the first week.
#6, It can be for sure.
Maybe we need a stock thread in here that we can all offer tips. I guess it could be this one and I could sticky it...
Look at Shaw. They own Freedom mobile and made a big splash with their 10 gb of data promo, forcing all the other telecoms to follow suit. They haven't raised their dividend for a couple years. This promo will start to gain them market share. Expect a dividend increase in 2018.
Those 5 stocks would make a nice portfolio or pick one between Shaw and Telus and go with 4.
Actually Blackberry is likely a buy now with their push into security software. My personal preferences are still towards dividend stocks like BNS which have paid handsomely for me.. You need a mix of dividend stocks and the rest spread across the various industries as Moose says. Non dividend stocks are definitely more swingy but certainly have a higher upside or lower downside. ymmv if you pick right. 3 of Moose's picks are in my portfolio so a least we agree on that.
For a more speculative pick how about FLYHT off the TSX Venture? They are into global tracking of planes worldwide, recently signed a contract with a smallish Turkish airline and I'm pretty sure they will have a runup at sometime in the future. Well off their high of 7.50 back in 2014, now at about $2. Might be worth a few bucks if you are prepared to wait.
That's just gambling on companies that have no profits
Gambling absolutely... But the profits are coming, no doubt about it. In some cases they are already starting to show, and that's on medical patients alone. These companies with licences are running the best medical cannabis access program in the world, and ended up with a huge head start on the recreational market about to be created. Those same companies are all racing to expand fast enough to meet the upcoming demand, so it will be interesting to see how it plays out - money to be made and lost for sure.
the Shaw logic totally makes sense and it's a great time to get in price wise. thanks!
Mack’s.... please read this . Mutual funds generate a huge profit for the banks. This will give you a general understanding of how much you will be giving up by investing in most bank offered mutual fund.
I wish I had all this info when I was just starting out.
You can also use his t-Rex calculator to see how bad the fees are on the fund you just bought.
originally posted by Toronto Pimp in another thread.
Excellent advice Mike, not many people pay attention to MER (Management Expense Ratio. I've only fairly recently realized (about 5 years ago) what a difference that makes. A "good" financial planner will explain that to you but the bank rep is looking to maximize bank profits while making it easy for himself. Wish I had realized it 20 years earlier.
This Globe and Mail page is a pretty good place to start for determining MER for any particular fund.
The net of it is if you buy the same stocks in the same proportion as the fund does and hold for the same length of time by yourself then you will be much better off long term. Those MER's really get you and generate huge revenue for the banks at no risk to them, it is your money they are risking. https://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/
Just starting out the best thing you can do is educate yourself, don't assume others have your best interests at heart.
Comments
Been a wild ride already but theres (arguably) still some money on the table.
My only regret is not going all in!
More intelligent words have never been spoken.
All the experts care about is generating fee’s. They give Zero fucks about your money.
So what do you do if you don't mind me asking.. Buy and sell on your own?
1. Use a TFSA and enjoy tax free profits... (*assuming there are profits!)
2. Qtrade, Questrade, or TD.
3. Buy and hold. Don't try to outsmart the day traders. Best left for the professionals IMO.
4. As was said above, it's best to do your own research and only invest in something you have confidence in.
5. Pay no attention to hindsight. It's super tilting when a stock you tried to get in on doubles the next day. (Had another one of these this week.... FACK!)
6. Holy shit it's addictive.
GL.
Check on #2, TD Direct Investing was my choice.
Check on #3, 100% right, need to make sure the $10, per trade doesn't eat up any profits or, shudder, increase losses.
#4, read, read, read, but make your own decisions.
#5, yep, or you listen to your wife say, why would you buy that? when it is down 10% in the first week.
#6, It can be for sure.
Maybe we need a stock thread in here that we can all offer tips. I guess it could be this one and I could sticky it...
weed
Acb (cannabies) and couple other ones.
so far so good.
Find companies that have a long track record of profits while steadily increasing dividends.
Telus - telecom
Fortis - utility
Linamar - industrial
My pick for best bank right now CIBC
Look at Shaw. They own Freedom mobile and made a big splash with their 10 gb of data promo, forcing all the other telecoms to follow suit. They haven't raised their dividend for a couple years. This promo will start to gain them market share. Expect a dividend increase in 2018.
Those 5 stocks would make a nice portfolio or pick one between Shaw and Telus and go with 4.
For a more speculative pick how about FLYHT off the TSX Venture? They are into global tracking of planes worldwide, recently signed a contract with a smallish Turkish airline and I'm pretty sure they will have a runup at sometime in the future. Well off their high of 7.50 back in 2014, now at about $2. Might be worth a few bucks if you are prepared to wait.
FLYHT Aerospace Solutions Ltd. Announces Issuance of Incentive Stock Options - FLYHT
And no, I have zero in weed stocks or bitcoin, which lost a third of it's value in the past 24 hrs..
Gambling absolutely... But the profits are coming, no doubt about it. In some cases they are already starting to show, and that's on medical patients alone. These companies with licences are running the best medical cannabis access program in the world, and ended up with a huge head start on the recreational market about to be created. Those same companies are all racing to expand fast enough to meet the upcoming demand, so it will be interesting to see how it plays out - money to be made and lost for sure.
the Shaw logic totally makes sense and it's a great time to get in price wise. thanks!
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Yes! Buy and sell stocks on your own!
Corollary: Ignore sales people who want you to buy shit you know nothing about.
Corollary: "Diversity doesn't make any sense if you know what you're doing" Warren Buffet.
Excellent advice Mike, not many people pay attention to MER (Management Expense Ratio. I've only fairly recently realized (about 5 years ago) what a difference that makes. A "good" financial planner will explain that to you but the bank rep is looking to maximize bank profits while making it easy for himself. Wish I had realized it 20 years earlier.
This Globe and Mail page is a pretty good place to start for determining MER for any particular fund.
The net of it is if you buy the same stocks in the same proportion as the fund does and hold for the same length of time by yourself then you will be much better off long term. Those MER's really get you and generate huge revenue for the banks at no risk to them, it is your money they are risking.
https://www.theglobeandmail.com/globe-investor/funds-and-etfs/funds/
Just starting out the best thing you can do is educate yourself, don't assume others have your best interests at heart.
I use CIBC now, does anyone have experience with their investors edge? I hear it is best budget wise but also the app for it is terrible.
If you have no clue about investing. Invest in an Index Fund. Say, Vangard VOO, if you want the S&P 500.
That will keep your management fees to a minimum.
But what you really should do is invest in areas you know about.
Read all the links.
They summarize my investment philosophy.
I worked setting up and running trade floors on Bay street.
One day drop from news, still up overall in the last 5 day/10 day charts. Not sure what you're getting at
Buying opportunity.....
But if it's in someone's investment plan to go for high risk, high reward, highly volatile holdings, who are we to say they're wrong.