RE:RE:Line 3 completion quietly passes half way markI agree that Line 3 would have been stopped by now if it was going to be stopped. I also find ENB is always conservative in their projections and they have extra incentive to rush so I expect to see Line 3 complete ahead of schedule. I valued ENB assuming a worst case scenario that Line 5 would be shutdown but I agree the probability of a shutdown is extremely low now. I know Marner mentioned different styles of investing and specifically concentration instead of buying an index or a large number of stocks. I will share what I do not that it’s better or worse than what others are doing. I believe if you have the time and can take emotion out of investing concentration will outperform diversification longer term. I decided to replace all my fixed income portion of my portfolio with 3 stocks ENB, RY, and TD when everything was on sale and it’s worked out nicely. Covid sucks but the reaction to investors created some amazing buying opportunities. I still have significant exposure outside of Canada and to growth stocks but I couldn't pass up on the sale on ENB, RY, and TD. My exposure outside of North America is passive, I don’t have the time to study overseas stocks. The style of investing that works for me is a mix of passive and active (North America).
I agree that the risk premium attached to Line 3 and Line 5 will go away will pass and the stock price will increase to a much more reasonable yield. Those of us who loaded up in the 30's will have a very nice yield locked in. Renewables are only about 3% of their portfolio and ENB did mention going for singles and doubles but I think they are just referring to pipelines. I believe ENB is all in on investing in renewables which should give them excess return on capital with a very friendly regulatory environment. I think the market will eventually wake up to the fact that ENB will be a leader in large renewable infrastructure projects and this should also help the SP.
Off topic but does anybody think we will see a significant real estate correction in the next 12-24 months in Canada? A lot of people have predicted these corrections in the past but I think this time it will happen with all the FOMO real estate buying right now. If we do see a correction I will go shopping and increase my real estate exposure in the GTA.