Hey everyone, I know it’s getting pretty crazy out there so I’m writing another update post.
Market Crash 2020
I haven’t been writing as much because I’ve been super busy! I’ve been putting my cash to work during this market meltdown. So that means that I’m losing money so far! But that’s OK that’s how we build wealth and get rich in the long run.
People, I know it’s scary but these are the times to buy. If you haven”done so already open up a discount broker account with Questrade and get in on this. Your future self will thank you! If you sign up through my link you’ll get $50 in free trades!
Some of you are just starting out in life and thinking about investing, these are the best times to start.
I began investing like crazy back in 2008-2009. I kept buying while the markets kept going down and stuck with my plan to buy as much index funds and blue chip stocks as could possibly afford.
I make automatic buys every week and I’ve been putting extra money into the market every day now for the past 2 weeks!
I bought all the big 5 Canadian banks…ouch! Telus, Suncor, index funds etc.
I have no idea where this will all end and I admit that I’m actually surprised that the sell-off has gone this far. In the meantime I’m focusing on my passive income and reinvesting my dividends!
It sucks when the market crashes, but it does offer a great buying opportunity. Once the market recovers, you’ll be happy you held on and kept buying!
Coronavirus and Oil Shock
The oil shock blindsided everyone I think. Yeah there would be weak demand, but no one saw Saudi Arabia and Russia flooding the market with oil.
For Russia this is pay back on the US for them trying to prevent an oil pipeline that would supply Germany with Russian oil.
Of course the holier than though Europeans would never dare touch Canadian dirty tar sand oil, but are perfectly fine with buying bloody dictator oil from the West’s arch nemesis Russia. Nice…
So the Russian aim is to whack US shale and it’s working. Russia produces super cheap oil $15-$20 a barrel, US shale needs about $50.
A Message to Ditto Trump Stop Holding Press Briefings!
Every time this guy talks the market tanks! Get this guy off the stage. Investors don’t want to hear your BS about Coronavirus being fake news! Although I think it is way overblown.
This will undoubtedly be Trump’s Bush Jr’s moment. It’s been over 3 years since we had a real crisis that wasn’t of Trump’s own making. And it’s clear that the D-Team is running America!
Canada Needs Real Leadership!
The Canadian economy has been on life support since the oil crash of 2014. The rail blockades and a feckless, loser prime minister, yes I’m talking about Trudeau, certainly didn’t help Canada’s economy either.
By the way JT has been running the show since 2015. What has he actually accomplished besides higher taxes and fake infrastructure projects.
We need a real leader and sadly it looks like there’s none to be had…yet at least. Maybe Peter Mackay will solve all our problems.
I’ve said it a million times but Harper, our most vilified PM in recent memory, actually saved our ass during the last big recession.
I’ll end my rant there and focus on the positive…my new coin!
New Coin to add to the Collection!
Well I won one of the coins I needed for my collection. A 1902 25 cents. I bought this Edwardian coin in a high mid-grade. The coin is sterling silver and had a mintage of about 464k.
Not a super rare coin, but a nice example to fill a hole in my collection.
Cheers! And have a great week everyone!
In case you’re wondering here’s where I park my money and some financial services that I use.
Some of these are affiliate links where this blog earns a small commission:
Daily Banking
For my Daily banking and no-fee cash back credit card I use Tangerine. Curious? Check out my Tangerine vs Simplii Financial review and the Tangerine Money Back Credit Card Review.
Savings
For my Savings I use the EQ Bank Savings Plus Account. Never heard of it? Click the link to check out my EQ Bank Savings Plus Account Review.
Investing
For investing I use a combination of TD Waterhouse (for legacy investments) and Questrade (low cost stock purchases and free ETF purchases). If you haven’t done so already, check out my Questrade Review to see why it’s the best deal around. Get $50 in Free Trades when you signup for Questrade through this link.