RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Quarter earningsRed_Deer wrote: Hey MapLak__INSTEAD of a LINE of CREDIT__WHY Did You NOT Simply
USE a
MARGIN Account__Getting ACCESS to As Much As 70% of Your Account EQUITY
maplak wrote: flamingogold wrote: If this is recession, it's been a very prosperous one for me compared to others. The market agrees too and why we've notched record after record highs.
Since the financial crises, the wealth gap has been widening and that just widened even more post covid as those holding debt are paying dearly now. What side of the fence one is on determines whether they are in a personal recession or not.
Torontojay wrote: flamingogold wrote: I second that. I own TD but not directly but through FTN, BK and FFN prefs. Solid montly distributions that beat TD. This certainly could bounce again but we might see some tax loss selling first.
rixpix wrote: bartno12001 wrote: Hey I covered all the banks. Not just td. I like doing this.
If td opens higher than 76 I am selling my 100 shares and moving on. If it opens lower than 76 I will hold and will wait to buy in low 70s - (70 to 72). But td is pretty much univestable for 2025
I will look at buying other banks stocks like cibc, bns. If bmo comes down to low 120s I will be interested. Ry stock price is too rich for me. A mere 100 share costs almost 18000..
Buy BK or FTN. Both on the TSX.
Or something safer would be FTN.PR.A , Pays over 8.5% dividend.
GL
It must be Canada's booming economy right Flamingo?
Nicely said Flamingogold. There is two kinds of debts good and bad. When market was whacked during the pandemic I took a line of credit to buy beaten up stocks since the most of my cash was locked in GIC's. After maturity I have started flipping my stocks to my money returning line of credit . Back then time = money.
I couldn't use margin account. Remember I did have any money in those accounts. They were empty for years . I gave up on investing after 2012. The most of my money and wife money were in GIS's accounts. As a matter fact to my surprise when I restarted trading I learned that I have closed my cash account so only accounts left opened were 2 TFSA , SPDRSP and my wife's cash account. Well today I consider that a lucky accident since I am collecting company pension and my doesn't have any. I don't need more taxeble incomes. So secured line of credit was only option back then. Only thing I regret not buying Nvidia when it was trading @ $ 128. All my money were invested in dividend stocks only and my guts were telling me sell EVERYTHING and put everything in Nvidia. Would I have done it I today I would be sitting in millions. Only reason I have not done it I had 6 months to retire and didn't want to take a risk. Hated word " IF "