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Saturday, January 4, 2020

Saying goodbye to BMO Bank of Montreal (BMO) and Sienna Senior Living Inc. (SIA)

I under the impression that my RRSP stocks portfolio closed today's session at its highest value ever: $48,632.26. Other than that, my non-registered portfolio closed today session at $120,295.83 and my TFSA portfolio at $83,147.80. Also today, I proceed with my first two trade moves of the year 2020. Inside my TFSA portfolio, I sold two stocks that I had been wanted to sell for quite some time now: BMO Bank of Montreal (BMO) and Sienna Senior Living Inc. (SIA).

Do you want to know all the good reasons why I decided to sell BMO Bank of Montreal (BMO)? First of all, if you have any of this junk inside your valuable investment portfolio, I strongly suggest that you follow my move. 2019 had been a crazy, but amazing year for the TSX. The direct proof of that being that I started the year 2019 on a $191,009.83 net worth, and I closed the same year on a majestic $239,582.44 net worth. Do you understand how much 2019 had been a good year for me? However, BMO Bank of Montreal (BMO) wasn't able to follow. Fact is, if you own some BMO Bank of Montreal (BMO) stocks inside your portfolio, you own a really poor quality stock.

It is no time to hold any poor quality stocks inside a portfolio. Just remember how fantastic, BUT super volatile and rocky 2019 had been... We might haven't seen anything yet as the Brexit still going on, Trump is provoking the middle East while at the same time facing destitution, Australia is burning... I think the destitution won't happen and I think that Trump will be re-elected for another 4 years. If it happens, we'll be in for a few more crazy years. And for all of those reasons, it's no time to own stocks that will only hold you back, because that is exactly the kind of damage that can represent holding on to a really bad stock like BMO Bank of Montreal (BMO) in your portfolio. I am really happy with today's moves. Without BMO Bank of Montreal (BMO), I feel better. Now that BMO is no longer from my TFSA portfolio, I feel much more in control, and much more powerful.

It's one thing to be an investor, but it's another one to be a good one, and to be able to do the right moves when comes to time. And it's even another thing to be smart enough NOT to lose money, but to make money. When a stock, especially a stock that is evolving in the banking sector doesn't bring in an increased in term of capital when the TSX is sky rocking, there's a big problem, something is wrong. When a stock doesn't perform in good times, imagine just how ugly it may get during bad ones! Personally, I have no problem to imagine.

Also, just yesterday, I received a marketing call coming from BMO Bank of Montreal which was to make me enroll to their so call protection service: InfoProtector 360. BMO Bank of Montreal is desperately trying to make money on the back of the Desjardins scandal. Many people had suffered because their personal information had been released and no one really knows for sure where it actually goes... BMO had named this program InfoProtector 360. Among other, InfoProtector 360 offers to:

"Register all of your important personal and financial information online to help keep it safe and accessible in the event of an emergency. InfoProtector 360 can also monitor the Internet to track the use of your registered information in the public domain and alert you if it is found. "

To do you see that, that Register that I put in bold and underline in yellow? It means that BMO Bank of Montreal is offering to enlarge the risk for your personal data to be stolen by being given away to another Quebec idiot while performing the task AND being registered in their informatics system. With what BMO Bank of Montreal is offering, the possibility of fraud is being multiplied by 2! Can BMO Bank of Montreal be 100% sure that the server where is store all of the "register" personal data won't get hacked? That InfoProtector 360 is bullshit. I was quite furious yesterday. I understand that BMO value share is on a big decline, but pushing sales over the phone by disturbing honest people won't help in any way. It's why I kicked off BMO Bank of Montreal from my TFSA portfolio. If you own any of BMO Bank of Montreal shares, you should sell now before it's too late. An organization that is so badly managed doesn't deserve to be in your portfolio.

When it comes to Sienna Senior Living Inc. (SIA), I wrote about selling this one for I don't know how many times. This stock is not able to register positive capital gain. When I read, also yesterday Susan Brunner's review of Sienna Senior Living Inc. (SIA), that was it! I was on my way to push the sell button in my broker account, and I did so today. Susan Brunner is invested in BMO, but on that one, she's wrong.

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