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Sunday, January 10, 2021

My situation with Bank of Nova Scotia (BNS) and an old stock of mine may makes a comeback in my investment portfolio

Today in Montreal, the sun wasn't out like yesterday, but it didn't stop people from skating at the La Fontaine Park. I was surprised to see many people skating like that. Back home, it's not safe to do such a thing. The weather is simply not cold enough to secure the ice on the lake and others. Looking fun, isn't?

Earlier today, I was exposing my situation regarding one of my oldest holding Bank of Nova Scotia (BNS). Knowing that I had been holding that bank stock since my early beginnings. Knowing that I had been holding BNS for such a long time, 10+ years, I would have expected my capital gain to be much better than the +15.65% that I am currently experiencing. For comparison purposes, I am on a +10.89% gains on the JFT Strategies Fund Class A Units (JFS.UN)'s shares that I hold inside my TFSA portfolio. Inside my TFSA, I had been holding JFT Strategies Fund Class A Units (JFS.UN) since October 2020...

Of course, it's frustrating because gaining high capital gain is important for me. I want to see the value of that portfolio of mine to grow and grow and grow. However, I just cannot deal with the idea to sell my BNS shares so I decided - for now, not to sell. It's also OK to remain in your position when things are getting messy. I am holding all of my assets for the long run, I can deal with a little weaker investment. I may appear to be too emotionally involved with my stocks, but it is the case. I have absolutely nothing to hide about what I do, and why I do it.

I currently have over $450 cash inside my TFSA. I won't invest using that money for now as I would like to make a bit bigger investment, but I was thinking about getting back in one of my old babies: Exchange Income Corporation (EIF). I also previously mentioned Pollard Banknote Limited (PBL) as a possible future investment, but my excuse for not investing in it at present is its involvement in the finance sector. 

Currently, what I hold of Exchange Income Corporation (EIF) inside my TFSA portfolio result from a DRIP, some shares arrived after I had sold my EIF shares. Back in July 2017, Marc Cohodes, an American, destroyed the confidence that investors had in Exchange Income Corporation (EIF) by publicly questioning EIF's ability to pay its dividend distribution, among others. By doing so, he negatively affects the value of Exchange Income Corporation (EIF). I got scared and since I was able to sell with a little profit, I did so. Since 2017, Marc Cohodes is nowhere to be seen. My Exchange Income Corporation (EIF) baby had proved to be a super stock. And I now regret it. EIF belongs to my portfolio.

1 comment:

Anonymous said...

BNS is a disappointment, but with all the dividends you collected over the years, your average cost is way below at this point. The TD web site (like all other website, afaik) is lame and not able to show calculate this. your account net asset value is still going up even the BNS stock price doesn't.


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