Canadian Banc Corp T.BK

I'm out for now.

[deisman03]

Today hit my "sell" price on both BK and BK.PR.A

Hopefully I can buy back in at a significantly lower price. Time will tell. 

GLTA the good folks here.

[flamingogold]

I did the same with DFN. The only difference is that DFN is straddling the threshold to pay and BK has plenty of cushion and always pays. This is one of those investments like my FFN preferreds where i just don't want to follow every penny movement so I take the payout instead. Over time it serves me well but one can make bump their winnings if they are choose to be more active. With DFN I

[deisman03]

Profit is what it's all about.  Strategies that are comfortable for some are tedious for others or just not worth the effort.  In my case, I move 10-20k in four different registered accounts, two non taxable and two defferred.  For my personal circumstances the profits from such moves are very significant and can levy substantial benefits towards my lifestyle, such as

[Toppicks1]

now I better understand why to are trying to move in and out all the time didnt realize your hands almost tied by limited capital.

[deisman03]

You understand a big part of it. Capital preservation is a hard lesson for many folks to learn and understand the importance of.  Brokers not so much, because they are playing with "other people's money" Once the little light was turned on, the absolute simplicity of it sunk in and I haven't looked back.  Yes, I've sold to soon and missed some big profits, but

[mouserman]

BK , i would be selling , with all 4 CAD banks down, and USD falling vs CAD... so the US holdings not really doing as well as it seems. You got your distribution, and next ex divvy date is a long ways away. MAY is historically usually a good time to sit on cash and buy the bargains.. but again, jmho...

[mouserman]

OOPs  i should have wrote the BIG 6 CAD banks.. was still thinking about the CAD lifecos.. which are 4 ..

[Toppicks1]

Ya I'm not selling very comfortable holding and getting my divi. They will cut rates sometime and this will trade way higher. I like buy and hold most of the time. Example GAU bought at 1.17 40000 shares trades at 2.25 I have no intention of selling as I think it will go to 5$ over the next 2 years. Each to their own. Timing the market is very hard I find it easier to buy great value and hold.

[deisman03]

EIT is one of my core holdings.  That being said, I have traded in and out of it several times over the years.  The last time I dumped the 5k units was just before the Covid bomb hit.  bought back in at fear induced prices. That wasn't skill on my part, just lucky.  I had a similar experience with BK at the time.  Again, more luck than skill.  Riding the

[Toppicks1]

The Best Buy and hold story I have ever heard. I have a friend that bought CNQ 10000 shares at 18 and change in the COVID crash still owns today. So on his original investment he is getting about 20% divi yield on his 185000 investment. I asked why he won't sell. He said the 37000 a year is great and does not want o pay the tax on the sale.

[flamingogold]

That beats my best covid purchase hands down. Your friend is sitting on 580k in cap gains appreciation plus his divs. During covid I accumulated Sir Royalty which came close to bankruptcy. My investment is 55k and today cap gain fluctuates around 100k with about 12k distributions annually. It's a sleeper stock, the best ones to own for monthly income.

[NoShoesNoShirt]

SIR is precarious because restaurants are the first thing cut when people have budget issues. And mouserman says we're heading into hard times as households renew mortgages at higher rates. I'd sell before the new capital gains inclusion. 

[flamingogold]

An economic slowdown is inevitable at some point, but will be nothing close to the total lockdowns of covid. Remember those days? I'd rather not. Anyway, on the other side of economic contraction is expansion again. Central banks now have 5 points of easing ammunition if needed to fight any slowdown.

[deisman03]

I took everything out of fully taxable accounts long before retiring.  Hopefully the present government doesn't decide to change tax status on these accounts.  That would hurt.  GLTA the good folks here

[flamingogold]

EIT, while not a split, and BK are solid holds. They fluctuate like all equities but are a perfect fit for those seeking stable monthly distributions without the need to flip in and out to goose their payoff which requires a lot of time and effort and not for everyone.   On the other hand, the splits like DFN, DF, FFN and LFE are much more sporatic in payment and require much more

[mouserman]

EIT.un sure looks like a split to me... there are preferred shares and common shares that make up the UNIT NAV at least looking at this  from Canoe: https://factsheets.lipperweb.com/digital/canoe/68196705_en.pdf

[flamingogold]

Perhaps a split but what I meant is that unlike Brompton and Quadravest, Canoe doesn't specify a payment threshold to issue a distribution. In weak years they have just lowered the distribution and in strong years they issue a special year-end distribution. As far as I know, it has never been suspended like we often see with Brompton and Quadravest. "How does the [Canoe EIT Income Fund]&

[Toppicks1]

i have never seen a reduced dividend in EIT.UN maybe 10 or 12 years ago if ever I have not seen one. Has been at 10 cents without a missed one ever.

[Toppicks1]

Has paid 10 cents since 2009. By the way only about 40% of the divi is taxable.

[flamingogold]

Correct, it's been solid since the GFC of 2009. Before that crises hit it was paying 21¢/share for 5 years. Previous to 2005 it was 65¢/share.

[mouserman]

Yes there are other split funds out there ,  PIC.a  now from  Mulvihill... has been around for a long time, used to be Strathbridge. They never missed a payment either, but did cut it in half or by 25%  when things went sour. It is still considered a split fund even tho it pays QUARTERLY . Definitely differences even between Quadravest and Brompton... and BK is one of

[Toppicks1]

Yes only 9%. But every month. I really think you like the gamble of weather they will pay or not. Like one of your favs LFE has paid twice in 12 months. Do the math on that. By the way EIT.UN dies not go up and down depending on which way the wind blows that week. Each to their own. Canoe has made a lot of changes lately I expect a divi increase in the next 6 months. We will see.

[mouserman]

LFE gave me over a 1 $ in captial gains last run up. and I am back in at abotu 4$ average.... what the % capital gain for BK??? It is not all about collected distibutions, you NEED the whole picture. If you are an active trader  and know BANKS DO NOT have the same advantage  as lifecos in high interest envirnoment,  it is easy to make money.  I dont own BK and I do own LCS and

[Toppicks1]

Ok I see your reasoning on capital gains and profits. Not sure I buy the fact that you have been buying LFE knowing no divi any time soon. And you stating that market has started big correction.of course that hasn't materialized.

[mouserman]

I did not even sell all the LFE from the previous runup, kept freebies..  Today it is now nearly at $14.70. UNIT NAV...Now i have been adding as it runs up, only about 2 or 3 K today early on so far. I have also been adding LCS  which is doing even better than LFE, and both trade at a discount.. so cant beat that.  A correction should be coming, but its an election year, so the

[Toppicks1]

Good for you nice trading. I have dabbled in Lcs but the lequidity was not to my liking when I had nice profit. Could not fill limit orders of any size without hitting it for about 20 cents. 

[mouserman]

First 2 weeks of April the market corrected.. i did not say it was going to crash for a year... AND the lifecos got thrown in the trash with the banks... which is also what i said.   I have been buying and trading LCS and LFE since the Central banks finished jacking rates, and realized that the high rates ARE great for lifecos, not so much for the banks.  But i also  have said BK