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Sunday, May 31, 2015

My new $10 000 credit line at Canadian Imperial Bank of Commerce (CM)

I already wrote about this one, a few days ago, I received a call from a CIBC representative saying I was pre-approved for a credit line. I went to a CIBC branch to have it open. Without having to even ask for it, I got a brand new $10 000 credit line, just like that, at an interesting interest rate compare to the other credit stuff I have. The interest rate is less than 7%. Fine with me. No credit check was required, so why not. 

Glentel Inc. (GLN) is now out of my portfolio for good and doesn't exist on the TMX anymore. I had received cash for all of my GLN stocks in both my TFSA and non-registered account. And of course, like usual when I have money available, I am thinking of my next investments. Canadian Imperial Bank of Commerce (CM) itself doesn't seem as a bad choice. CM stocks are super expensive, but its yield of 4.59% is not leaving me indifferent. I am still thinking of my old crush Northland Power Inc. (NPI). Another cool stock seem to be Brookfield Infrastructure Partners LP (BIP.UN) on which Gordon Pape hugely publicized in the recent past weeks. Other than Gordon Pape, BIP.UN seems to be an interesting investment.

For now, my 2 top picks for my TFSA are: Canadian Imperial Bank of Commerce (CM) and Northland Power Inc. (NPI). I should hurry up and place my investment orders, but I didn't do nothing since received cash for my GLN shares.

I am currently waiting for my JFT Strategies Fund (JFS.UN) investment to hit on the $2 500 value so I can sell some units and bring on a $500 cash, like I did in the past. However, this is not going to happen anytime soon. I was curious to see what the investment manager of JFS.UN, First Asset Investment Management Inc. have to offer. And I find this page interesting. One of the most profitable EFT presents on that page is First Asset Morningstar National Bank Québec Index ETF (QXM). QXM is a five stars Morningstar EFT. Its management fee is only of 0.50%. Its surprising, but QXM is one that brought in most of cash since its inspection and on a one year. But when looking at the holding, I see a lot of stuff that I don't like: Yellow Pages, Dorel, Power Financial, SNC Lavalin... No thanks. I pass. NEXT.

I am not in a hurry to invest because I am not exactly sure of what I want. I cannot mess  up with my next investments. I think CM will be my next investment in my TFSA. I will announce when it will be finally done.

For June - that is tomorrow... my rent is getting increased of a $10, making it to $635. I am really not very happy about it.


Anonymous said...

"Rent going up by $10.00".. This might make put a smile on your face LOL.. I paid 895 and will likely see a $55.00 increase for January. Last year was $45 increase and the year before that was $55.00.

Anonymous said...


Thank you

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