Friday 29 June 2018

I Bought Shares in Octobank!

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!

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