I decided that if you can’t beat them buy them. Today I took the cash that was in my RRSP and bought shares with them, investing in Canada’s Big Five Banks.
I refer to this group as “Ocotobank” as they really do behave as one, and complete only slightly.
They just jostle back and forth and remind me of a group of rich enjoying a friendly game of sport, not really wanting to win, just wanting them all to win.
I have heard that they even own shares in each other . . . there’s a real incentive to crush your competition.
So, since I had to put cash in “my” RRSP and leave it there, I decided to see what would happen if I bought an equal dollar amount of shares in each of The Big Five Banks.
So, when Ocotobank makes record profits every year (and they do) they’ll be giving me some o that. After all, they are good at making cash, so now they are making it for me.
Any left over cash from this transaction will be stuffed into a mutual fund.
As always: Keep your head up, your attitude positive, and keep moving forward!