The TSX set a new record high today, closing the session at a very comfortable 15 864.17 points, and making me at the same time richer than I never been before. Its quite shocking to see the TSX battling up records like that bang bang bang. And beating up the mark of 15 800 points is quite something. Its actually unbelievable. Why is the TSX suddenly going all the way up like that? Anyway, as you know, I stop trying to understand it all a very long time ago. Someone very famous, very rich (and very old too!!) once said that you should only invest in stocks that you understand. I so don't agree with this line of thinking. Not at all.
Investing in stock can be quite intimidating, but nothing should stop anyone to invest in stocks. If I would had wait to actually understand the stock market, understand how the system work, what it is, understand the stocks I invest in, I still wouldn't be investing because its all too complicated stuff and the only thing I am into is making money. I don't So once I kind of get the picture, I jumped it. No need to know anything, the only thing required is a great taste for danger, adventure, and of course, MONEY. Remember, its all about capitalism. I want a slice of the cake on my side when I sleep at night.
MONEY, MONEY, MONEY
Right now everything is so on the high, but can the TSX jump back very sharply too? Oh yes it can! But I don't worry too much about that. Stock market around the world goes up and down all the time, that's what they do. But in the meantime, give me a break, I am richer than I ever been before and I suspect to be sitting on a net worth of $188 000. My non-registered portfolio is at its highest, sexy as ever, standing at a strong $151 968.72 and my TFSA portfolio is enjoying itself at $59 224.55.
What can be consider as one my major achievements of the past couple years, my latest investment in Toromont Industries Ltd (TIH), is not a joke. Since February 9, TIH had grow by 2.22% in my now famous non-registered portfolio. So far in 2017, I invested $2 668.20 inside my TFSA. Since I have contribution room left, I am thinking about taking my Toromont Industries Ltd (TIH) stocks and proceed with a contribution in kind to my TFSA with TIH.
Knowing that Toromont Industries Ltd (TIH) gained 2.22% since only February 9 and especially knowing that TIH shares have outperformed the S&P TSX by 31.22% during the last year, proceeding with a contribution in kind on that stock is a very good move.
Why am I so smart?