Our dollar is rising at an accelerated rate. Our unemployment rate just dipped below 8% with an increase of enough jobs to offset the ones lost from the recession. China wants our oil and lumber. Russia and other countries are looking to buy our Loonie over the US dollar. Things are really looking up for Canada in these times of financial crisis. But how long will all this last? Personally I hold a lot of value in the power of positive thinking and that it can actually influence your surroundings. Does positive thought influence the stock market? Perhaps.... but it's mostly greed.
I just finished watching Micheal Moores, "Capitalism, a love story". I know the movie is his opinion and should be watched with an impartial mind, but he brings up a lot of good points. In Canada, are banks are still regulated by the government which means they are not allowed to bite off more then they can chew like what happened to AIG and CITI. Most of the bail out money from the US went to pay corporate bonuses and new company jets for the big banks. So having government regulation may limit the amount of money our banks can make, but it keeps them in check and allows them to be admired on a global scale for how well they performed during this recession.
I like investing in Canadian companies, and my portfolio reflects my opinion. They say to properly diversify your portfolio, you must invest in other countries. Well I think Canada has very diverse sectors to invest in. We may lack a lot of consumer goods and pharmaceutical companies, but those sectors are growing every day. Biovail was a very sleepy stock till it partnered up with Valeant from the US. It shot up $5 after the merger was announced. With our continued growth, I see a lot of dividends increasing which always makes me happy. And by keeping my money in Canada, it only adds to the prosperity of the companies and in turn, strengthens our economy.
What Canadian Stocks do you own? Which ones are on your watch list?
Next time I will share what things I look for when purchasing stocks. Have a great weekend!
3 comments:
All I know is that Victoria's Secret is opening Canadian stores: do you think they'll have Canadian stock? Do you think they'll pay dividends???? We may have to do an on-site visit to ask when the store opens!!!!!
No, No and NO!
I bought CP when it dipped. I will be looking at more Canadian stocks as it goes along.
Moneygardener got me to Canadian Pacific after Buffett bought my US rail (BNSF)
Post a Comment