Stock Purchase - RY

Tuesday, January 13, 2015 1 Comments A+ a-


Today I started a position in:

Royal Bank (RY) - 25 shares @ 77.02 - Yield 3.91% - P/E = 12.77

Image courtesy of RBC.com
I've updated my portfolio to reflect the new addition to the family and want to add most of the major Canadian banks into my portfolio eventually. Even though the banks have been starting to take a bit of a beating (e.g. BNS) my plan is to hold long term anyways. My next purchase will likely be in a different sector to help diversify a little, though it's difficult with only a couple stocks so far and starting from scratch. My goal is to have a 20-30 at the very least spread across many sectors.

I was debating whether to initiate a position in the energy sector but might hold off just a little bit longer. Things are starting to get interesting - Suncor Energy (SU) just recently announced cutting 1000 jobs and reducing capital spending by $1 billon dollars today.. so the energy sector fun times is heading into full swing now.




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DivHut
AUTHOR
January 14, 2015 at 8:35 PM delete

Like the RY purchase. Seems like all the large Canadian banks are falling with the price of oil I just added to my TD in January and might still add to my RY and/or BNS before the month is over.

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