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Tuesday, May 10, 2022

Sharing some ideas while the TSX is "enjoying" a very bad correction

The weather was very nice again today in New Brunswick. Its nice to be able to take a walk in the evening without having to wear a jacket. I didn't get the chance yet to do shopping for some summer clothes, but as you can see, there're nothing close by... It making it easy to save up some money, but it can feel quite miserable from times to times, and it can get on my nerves.   

This morning, the TSX regain some points from yesterday's disastrous day, but nothing much. In the early hours of the opening, we didn't regain even half of the points that were lost yesterday... I knew we were in for another bad day. I regained about $2,000 value early this morning, which is nothing much knowing that $8,000 went all down the drain... This is saying what it's saying: the TSX isn't looking forward into regaining any valuable points anytime soon. Its a hard reality, especially knowing that not too long ago, back on April 20 of this year, I was hitting on my highest net worth value EVER, with a fabulous $361,442.42 that I will never forget...

Unfortuntaly, I am not certainly no longer in the $360,000. I am ok with that. My non-registered portfolio closed today session at $141,698.71, my US portfolio at $4,937.16 US, my RRSP portfolio at $64,273,49, and my TFSA portfolio at $121,216.79. Since I suspect this current stressful state of the market may remain for a little while, I proceed with a $1,500 cash transferred over my margin account. This should lower my margin debt to $43,953.43. I have one of my $5,000 credit line with a low interest rate on it. I was thinking about transferring a 5k from that credit line on my margin account, but its only an idea for now.

Also today, a couple of my stocks announced a dividend increase. I actually have a list of them this time around:

Ovintiv Inc. (OVV)

Exchange Income Corporation (EIF)

George Weston Limited (WN)

Finning International Inc. (FTT)

Now, my annual dividend income is super close to $11,100.

Right now, many good dividend payers are getting cheaper and cheaper, like for example BNS, BCE, T... I have over 3k in JFT Strategies Fund Class A Units (JFS.UN). I am thinking about selling my JFS.UN to buy again some BCE stocks. Just an idea for now, but I think I will: sell my JFS.UN units that I own inside my TFSA, transfer the money over my non-registered and invest over my non-registered in order to help my margin and invest in my non-registered in some BCE stocks... Another idea for now. 

It suck to be dealing with such correction, but I won't let my chance go to invest in some good quality assets that pay good dividend money. The decision is kind of easy to make...

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