In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
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Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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Q: Hello, Pat. I’ve done very well with a lot of your recommendations. In point of fact, some are at or near their all-time highs.
Last week you mentioned that Metro Inc....
For instance, CP Rail recently split its shares on a 5-for-1 basis. That means that its share price is now $90.86—rather than the $454.30 it would be if the split hadn’t occurred.
However, shareholders still hold an equivalent stake in the company—the market capitalization of CP Rail (shares outstanding times the current price) is unchanged.
Looking at TD Bank, $83.33, symbol TD on Toronto (Shares outstanding: 1.8 billion; Market cap: $151.5 billion; www.td.com), it’s noteworthy that it’s the only one of the Big Five banks to have a stock split in the last 10 years—the stock split 2-for-1 in 2014....
Note, because segregated funds can be paid out directly to your beneficiary, it’s not included as part of your estate....
We feel Metro’s new initiatives, which the pandemic accelerated, set it up for more growth....