RE:RE:RE:What happened to all the so-called long term invetorsThe sells I have always sold when I was up on the stock, so pretty much 100%. Anytime I sell it is based on material changes within the company that I do not like and that to me do not fit the strategy. So AQN when they announced the Kentucky deal, ALA when they got stupid, ENB when they kept fighting with every regualator rather than trying to get them on side, Rogers when they massively overpaid for Shaw (the last two I have never bought back), Parkland I sold when they started adding massive debt for non-accretive acquisitions and using non-GAAP accounting terms like adjusted EBITA. Manulife is a buy at 20 a sell at 28-29, been doing that since it went public as it never holds above 30 bucks for long. That said, I have left money one the table more than once, latest was selling Manulife at 28.25 and it is now at $33, where they kept going up after I sold. However, they pretty much all ended up coming back below my sell price at some point. The dividends I gave up while I was out, would have never paid for the capital losses.
I never buy anything but dividend paying blue chips but if you look at BNS and CIBC versus RY, I have never sold RY after I started accumulating it in 1981. I have bought and sold BNS and CIBC many many times in that same time frame. The good thing about buying quality Blue Chip dividend payers is you pretty much sure they will come back to the price you paid, even if youbought them too high, and you do get the dividend while you wait for them to recover. So for example, I added a good chunk of Telus at 29 bucks to what I was already holding with a ACB of about $18, it is 23 now, so that addition was not well timed, but it did not move my over ACB up all that much either and it is cranking out 6% dividend.
However, not as smart as all that makes me sound because I hold no Nividia, Bit Coin or any of thee the other high flyers. They don't fit my SAFE investing model.
SargeX wrote: Hey Dean
We definitely do generally think along the same lines. The big difference is that you are a total return investor and I'm an income investor.
I never sell something with the thought that I will buy it back later. I only sell if something signiifcant changes with the company.
You seem to really do well with your buys and sells but I think you are quite rare in that regard. I think most people that follow that strategy end up getting it wrong more times than they get it roght. It allso generally introduces a whole new level of stress.
Congrats on BCE and all your previous successes. What do you figure your batting average is on good vs bad sells/re-buys?
Take her easy
Sarge
DeanEdmonton wrote: Sarge - good to hear from you. We are usually on the same page but this time, I am REALLY glad I sold off most of my position at $64. Quite happy buying back most of it in the $48 range. I like the dividend yield like I posted earlier, but I sure don't mind picking up stock at a $14 discount.
SargeX wrote: I really find it quite amazing that so many people that say they are long term investors are fretting so much about short term stock prices. Unless you are a short ter/day trader, who the heck cares what the algos/shorters/etc are doing.
As a "true" long term investor, I only care about what BCE does in the next 10 years or so. I am really confident that BCE will adjust their business model to fit the factors like the CRTC silliness.
Time for lots of people to just chill out.
Ciao
Sarge