Stocks I Bought October 2024
A review of the stock market and my moves - Month 2
Major Indices VS My RRSP
The month of October ended up being pretty uneventful in terms of the four major indices with the biggest gaining coming once again in the Nasdaq and the biggest loser being the Dow Jones Industrial.
In my RRSP XAW was the clear winner with the other 3 more or less even. One nice thing is none of my holdings were down over the month.
| Ticker | Index | 2024-10-01 | 2024-10-31 | Percentage Gain |
|---|---|---|---|---|
| .INX | S&P 500 | 5708.75 | 5705.45 | -0.06% |
| .IXIC | Nasdaq 100 | 17910.36 | 18095.15 | 1.03% |
| .DJI | Dow Jones | 42156.97 | 41763.46 | -0.93% |
| TX60 | TSX 60 | 1439.73 | 1445.19 | 0.38% |
| Ticker | My RRSP ETFs | 2024-10-01 | 2024-10-31 | Percentage Gain |
|---|---|---|---|---|
| VDY | FTSE Index CAD | 48.44 | 48.55 | 0.23% |
| XAW | Many Indexes | 42.68 | 43.35 | 1.57% |
| SCHD | Subset of Dow | 28.16 | 28.23 | 0.25% |
| VTI | Total US Market | 280.58 | 281.03 | 0.16% |
My Moves
As always I did my typical buys this month being mid month for the TFSA and end of month for the RRSP.
Over the last few months I’ve been thinking about streamlining my portfolio and what I would like to hang onto and continue to build out as core positions. My RRSP is in a great place in my opinion and is setup up for great growth potential while limiting some downside with VDY and SCHD.
As I have mentioned in the past my TFSA has a significant portion in income focussed ETFs. While I still want to keep some of my TFSA in income related ETFs I want to decrease the number of them and focus on the top performers. With that in mind I made many changes to my TFSA this month
TFSA BUYs & SELLs
- Sold all CASH (part of our emergency fund)
- Bought SPLT
- After a few rate cuts the dividends from HISA ETFs have decreased. I believe this will continue and thus I opted to put the money into SPLT.
- SPLT is an ETF form Brompton that holds 20 preferred split share funds and has far better returns than both PSA and CASH
- Sold all RS
- Started a new position in QQCL
- I’ve been holding onto RS for awhile and once it finally became a slight gain for me I decided to exit the position. I don’t believe in it anymore and opted to increase my exposure to the NASDAQ this time in the form of QQCL which is by GLobal X and includes both covered calls and leverage
- Sold all LBS
- Bought more VDY and added more PSA
- Split share funds have continued to lose favour and I have alot of overlap with HDIV and VDY.
- Bought HXQ
- Similar to last month I am still working on building out this position
- Bought QQCL
- Aiming for 3:1 HXQ to QQCL, which allows me to still participate in alot of NASDAQ upside while hedging against any big downturns
- Bought PLTH
- the final purchase for my speculation in MJ stocks
TFSA Breakdown
- percentages are calculated based on current market value
- the entirety of BANK was purchased with a line of credit offer. It has worked out well for me but I would not recommend. I will re-evaluate in Feb 2025 when offer expires
- SPLT is my wife and I’s joint emergency fund.
My TFSA is far more complicated than my RRSP and I think ultimately I would like to reduce it from the current 19 positions to 15. (PLTH is not listed as it is a gamble). With that being said the only stock I currently would like to get rid of is AQN. However currently I am significantly down on AQN and don’t want to lock in that loss as of yet.
RRSP Buys
RRSP buys were nice and simple this month. This month I purchased VDY. I was definitely glad that it wasn’t a month where I was looking to buy a US listed position as our dollar has been extremely weak. At time of writing google is showing $1.39 CAD per USD meaning you’d likely pay closer to $1.41 without the use of Norbert’s Gambit.
RRSP Breakdown
- percentages are calculated based on current market value
Dividend Increases and Decreases
Note: Many of my holdings are in ETFs that have varying distributions from one to the next so I’m not expecting that much dividend growth here. (also hopefully zero decreases but I’m still holding AQN)
- Increase on BANK from 0.10 -> 0.11
- Decrease XEI from 0.113 -> 0.109
Fear and Greed Index
That’s all for this months review thank you for reading. I hope you enjoyed my thoughts and progress as I plan on making this a recurring post here.