10 Responses to “November 24, 2023”

1. Nestor says:

   November 26, 2023 at 12:01 pm

   “I might soon have to stop mocking this rally! ”

   i’m cautiously optimistic the bottom in prefs was in 4-5 weeks ago … let’s see.

2. fsabbagh says:

   November 26, 2023 at 6:12 pm

   Not convinced yet. Then again, why do we want a rally? I prefer (no pun intended) to see the prices keep falling so we can pick them up cheaper. It’s not like many of us will sell anything. At least, I won’t. I was hoping to buy more in mid-2024, we’ll see where the market is at that time.

   Let me know your thoughts.

   Ferris

3. Nestor says:

   November 26, 2023 at 7:42 pm

   i have no idea how long it will last, or how far prefs will go on this run, but there has been a significant enough change in trend on a weekly basis to be optimistic, imo.

4. fsabbagh says:

   November 26, 2023 at 9:05 pm

   Off topic, What are you guys investing in when it comes to RSP? I am prepping for retirement in a few years and locked in a few GICs at 5.25 and currently moving some to Oaken for their 6% 2 years GIC. (withing CDIC limits) I have a significant amount in self directed and have been dumping the cash into ISA 4.9%. Have been thinking of moving into Canadian Energy (CNQ,SU,etc…) for the dividend yields.

   Any suggestions?

5. baffled says:

   November 27, 2023 at 6:31 am

   fsabbagh says: you ask ” why do we want a rally? ” , i 100% agree with your comment , i am not done buying .

6. baffled says:

   November 27, 2023 at 7:09 am

   fsabbagh says: , you say ..”Have been thinking of moving into Canadian Energy (CNQ,SU,etc…) for the dividend yields. ” the div yields will be reduced , as the money will be taxed when you take it out of the rsp/rif . the price of the stocks that you buy , may never be seen again ( higher or lower ) so , in my opinion you need 5 years of the yearly money you are planning on taking out in 1 to 5 year gics , hopefully in the 5 years the stocks will be higher , so you can sell to fund the next 5 years of withdrawls .

7. paullo says:

   November 27, 2023 at 9:37 am

   I am actually done buying as I am significantly overweight pref shares. If their prices go up 20%-30% from current levels, I will trim and rebalance my portfolio. If they don’t go up, I will continue to collect the attractive dividends. I look at their current price percentile over a last ten year period. For me, when prefs were trading in the 10th to 15th percentile, it compelled me to go overweight. If they go to 75th percentile, I will rebalance.

   I strongly agree with “Baffled” on “so , in my opinion you need 5 years of the yearly money you are planning on taking out in 1 to 5 year gics , hopefully in the 5 years the stocks will be higher , so you can sell to fund the next 5 years of withdrawls .”

8. stusclues says:

   November 27, 2023 at 11:36 am

   “I am actually done buying as I am significantly overweight pref shares.”

   Me too. I want the rally. For guidance on how far it might run, look at the FR spread chart posted each month in James’ MAPF Performance Report. We have seen this movie twice before in the past ten years. I don’t think “this time is different”. Spreads exploded to unrealistic/unsustainable levels. We are only part way down the current waterfall.

9. jiHymas says:

   November 27, 2023 at 12:11 pm

   look at the FR spread chart posted each month in James’ MAPF Performance Report.

   Or look at it earlier, with many other fine charts, with a subscription to PrefLetter available monthly with a year’s subscription costing only 209.05 including tax. That’s right, just 209.05! Get your subscription today!

10. Nestor says:

    November 27, 2023 at 3:37 pm

    lol…. the subscription is cheap, worth every penny. (please don’t raise prices).