In this article, I’ll talk about how I invested in the stock markets this week by sharing with you:
1. Stocks I bought
2. The growth of my RRSP portfolio and
3. Stocks the gurus say will pop in the coming week and whether I’ll be buying.
Portfolio Status:
The portfolio currently sits at $3,128.86CAD and the growth has been by about 6% in the past month. Yeah, yeah, I know January isn’t over.
Stocks I bought
Most of my new purchases are dividend stock, and I didn’t purchase them for profit. Instead, I purchased them to grow my monthly dividend income. The recommendations came from Chris Sain, one of the top stock market analysts on YouTube. 70% of his picks have made me money and so I trust his judgment. I’m enrolled for a trading course, however, so I can pick profitable stock by myself soon. Moving on…
BGS: B&G Foods Inc.
- Dividend Yield: 6.80% (as of 8th January 2021) and has been consistent for the last 5 years
- Market Cap: $1.775B
- Balance Sheet: Assets: $3.2b Liabilities: $2.4b
- Analysts Speak:
- Share price projection – $30.56; there’s an upward trend estimate of about 10%
- Recommendation Rating: Hold
T: AT&T
I’ve made a gain of 2.15% on my position here.
- Dividend Yield: 6.95% and has been consistent since 1995.
- Market Cap: Approx. $206b. It’s got the largest market cap of them of all aka, one stock to ‘rule them all’.
- Balance Sheet: Assets: Approx. $551.6m. Liabilities: $68.9m.
Ooh! Ooh! Assets are almost 10 times the liabilities; amazing stuff! - Analysts Speak:
- Share price projection – $31.04; there’s an upward trend estimate of about 10%
- Recommendation Rating: Hold
CSWC: Capital Southwest Corporation
I’ve made a gain of 4.14% on my position here, but I’m not in it for an increase in the stock price. Remember, the reason for this purchase was for the high dividend returns.
Being a newbie in investing, after Chris Sain pointed to this stock, there were a few key things I looked for in my personal research:
- Dividend Yield [Because, obviously. [eye roll]: 8.91% and has been consistent since 1996.
- Market Cap: Approx. $346.58m
- Balance Sheet: Assets must always be more than liabilities for me.
- Assets: $584.959m
- Liabilities: $312,737.
- Analysts Speak:
- Share price projection–$16. In the next year, they predict this stock to drop to $16, but after that, it’s the only way up.
- Recommendation Rating: Buy
If you want to know more about this stock, you can find it in Yahoo Finance.
MAIN: MainStreet Capital Corporation
I’ve made a loss of 2.39% on my position here.
- Dividend Yield: 7.81% and has been consistent for the last 5 years
- Market Cap: Approx. $2.1B
- Balance Sheet: Assets: $2.7b Liabilities: $1.17b
- Analysts Speak:
- Share price projection – $32, so it’s got a tiny bump of about 4%.
- Recommendation Rating: Hold
If you want to know more about this stock, you can find the link to its page in the description below.
I use Wealthsimple for trading but, I’m still at crossroads on whether to move my USD stock to Interactive Brokers. Interactive Brokers seem to want traders with larger portfolios and would charge a fee for placing your RRSP and TFSA accounts with them.
This fee is separate from the commission fees charged. The commission fees are lower for US stock, which is what I have most in my RRSP. I may end up keeping my Canadian stock with Wealthsimple and move my US stock to Interactive Brokers when I have a larger portfolio.
Leave a comment in the comment section if you’re just starting out like me and what stocks you’ve bought and why.
And if you haven’t started, keep something aside every month, even if you can spare $50 for your future self. Cut out some things until you’re able to round up $50 a month. In the coming weeks,
I’ll make a video of some adjustments I made without having to sacrifice some things I love.
I’ll leave you with a word today:
Proverbs 21:20 ESV
“Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.”
If you’ve learnt something valuable from this article, share on Facebook or Twitter. I really hope following the journey inspires you to start yours.
Chris Sain, and by the way, I think you should subscribe to his channel because his picks have all been looking good, has recommended some stock that will double. They are Macy’s ($12 or lower) and Dropbox (below $22).
Don’t be afraid to start.
If you want to mirror my stock picks before I give summaries at the end of the week, you can follow Chris Sain.
If you have questions, leave them in the comments below and I’ll do my best to answer them.
Don’t forget to share this article. It helps the blog and will get this article to a lot more people who need to get off the hamster wheel of life.
You’ve got this.
