1970Craig wrote: If you want to be incredibly wealthy you buy and continue to buy , and re invest your dividends . You start out with a not so exciting diviend , and around year 20 you are getting 15 %. . You are getting consistent strong capital appreciation on the share as well.
It's almost as if it's a secret that if you want to be wealthy you just buy banks.
Regarding the split.
That's a great subject. I think it's safe to say 100 dollars is not a reason to split. If I remember correctly it's split at 50 forever ago. It's split at 100 , and I am thinking it's going to be at minamim 200 dollars.
I am all for it at 150 because there is always a nice bump when this happens. I won't be surprised if they spit at 500 or 1000. As long as they allow you to hold a percentage of the share when dividends are dripped.
I owned my first shares of Royal when I was 18. I actually got certificates. It split amd I got more. I love the certificate. Makes you feel like a real owner.
I don't have those shares anymore. Long ago they were gone. I feel if there is advice for someone in there 20s or heck even 30s. It's put 10 percent away amd forget about it. I would tell them to get Royal or TD or at least one of the top 5 banks.
I sold a property holding and I was choked Inhad
to watch the price go from 100 to 130 while I waited for closing. I put 50 percent into Royal and TD , and then split the rest amongst BMO -BNS -. I only steered away from CIBC.
My point is ? I new the banks were getting there leash taken off in the fall , but I had thought the price was baked in due to them rising. Well , Royal trading at 149' ? We got in at $ 129 ?
Anyway that's my bank story !!
good luck all.
Craig