buying stock in small amounts?

[Sagath]

I've got Wealthsimple, as well, and I like it. My investment decisions I'm less of a fan of. I've swapped mainly into ETFs now to play the longer-term game; I don't have the nerves for short-term trading.

Also, as a sidenote, you can create or port over a TFSA into Wealthsimple, which is what I've done now. Apparently Revenue Canada gets grouchy if you use it for day-trading, but longer terms investments mean you don't have to worry about the tax side of things (within the maximums of a TFSA, of course).

Not just specific for yourself, but I highly recommend anyone doing investments (both before, and maybe every 2-5 years during) track their risk tolerance (RT) when making investment decisions. There are many questionaires online that will give you an idea of where your RT is at.

Also, be VERY honest when answering them; I know several people that when the COVID downturn hit last march realised their RT wasnt nearly as high as they thought it was once they lost 50-75% of their investment value...

 

[gingerbee]

wow 50-75% that hurts thanks all good advice

 

[clshades]

I've got Wealthsimple, as well, and I like it. My investment decisions I'm less of a fan of. I've swapped mainly into ETFs now to play the longer-term game; I don't have the nerves for short-term trading.

Also, as a sidenote, you can create or port over a TFSA into Wealthsimple, which is what I've done now. Apparently Revenue Canada gets grouchy if you use it for day-trading, but longer terms investments mean you don't have to worry about the tax side of things (within the maximums of a TFSA, of course).

I figure trading long term in companies like virgin space, Amazon space, etc wouldn't be a bad investment. It's projected to be a 14 billion dollar business in the next 10 years or so.

 

[vulcan500rider]

Not just specific for yourself, but I highly recommend anyone doing investments (both before, and maybe every 2-5 years during) track their risk tolerance (RT) when making investment decisions. There are many questionaires online that will give you an idea of where your RT is at.

Also, be VERY honest when answering them; I know several people that when the COVID downturn hit last march realised their RT wasnt nearly as high as they thought it was once they lost 50-75% of their investment value...

You are very right about that, Sagath. Fortunately in my case, I was only investing money I could entirely afford to lose, and only a relatively small amount. Also fortunate was that I only really lost the gains I had made, so I'm more just back to my original investment--it could be a lot worse. On the bright side, it made me realize that my risk tolerance is a lot more in line with set-it-and-forget-it ETFs. I've still got a handful of small speculative investments in businesses I think have really great growth potential, but 90% is in those ETFs.

 

[JD]

Also, be VERY honest when answering them; I know several people that when the COVID downturn hit last march realised their RT wasnt nearly as high as they thought it was once they lost 50-75% of their investment value...

But sir, this is a casino!

...at least that's how I see it. It's gambling - you win some and lose some. Always play within your limits.

 

[Soultribunal]

But sir, this is a casino!

...at least that's how I see it. It's gambling - you win some and lose some. Always play within your limits.

I was wondering where the OLG Spokesman got himself off to, and here I have found him. I always had a feeling JD, but now I know

AS for stock, the way I look at it, unless you are a pro in the market, is only play with what you can safely feel like losing. Its a volitle place, and even 'sure' things can wipe tons of value off a company in a matter of a day. Hell, look what Elon has done just by tweeting with Tesla LOL.

-ST

 

[JD]

Its a volitle place, and even 'sure' things can wipe tons of value off a company in a matter of a day. Hell, look what Elon has done just by tweeting with Tesla LOL.

I mean look at Virgin Galactic today, down almost 18% even though they had a successful flight yesterday. I'm not even sure how anyone can predict that.

 

[Sagath]

I know you guys are half joking, but that's how risk assessments are done. If you have no tolerance for a daily 18% drop, only to have it recover that 18% over the next 5 years, and then a 20% grown over the NEXT 3 years, then the recommendation would be a 5 year bond (for example).

 

[Marzipan]

I started with chicken stock...then moved into beef and now I'm buying vegetable. I know it's risky, but I'm sure this will pay off and one day I'll be a boullionaire!

 

[tonytdnguyen89]

I started with chicken stock...then moved into beef and now I'm buying vegetable. I know it's risky, but I'm sure this will pay off and one day I'll be a boullionaire!

Underrated comment. I actually chuckled. lol