Recent Purchase: Laurentian Bank

Hey guys! Just a quick update about my latest purchase. I increased my position in Laurentian Bank by purchasing 28 shares at $44.51 per share. I bought this bank for the same reasons I stated last month, except that I was able to buy it cheaper. At this price, the bank offers a 5.75% dividend yield which is fully covered and safe. I now own a total of 92 shares of Laurentian Bank which equates to 6% portfolio weight. My position in LB is now full, but I also plan to start new positions in other Canadian banks.

For the next few months, I will be looking to average down some of my losing positions. Stocks like Pizza Pizza, Morguard REIT, Crescent Point, and Cominar are really getting attractive.

That’s it for today! Cheers!

My First Investment in Cannabis Stock: FSD Pharma

Hello folks! Canadian cannabis stocks are on fire as of late so I decided to give it a try and invest in that space. Most of the weed stocks are already very expensive, but I found one stock that could potentially multiply just like Aurora, Aphria and Canopy Growth.

The new company I’m talking about is FSD Pharma, symbol “HUGE” on the Canadian Securities Exchange. I believe this company has a perfect blend for success. They are transforming a former Kraft facility into world’s largest, indoor, hydroponic cannabis facility. The facility is on scheduled to be completed in 2019 and the first harvest will start in the first quarter. The balance sheet is in top shape with 31 million cash and zero debt. I don’t know how high the stock can go, but it will be a lot higher in 3 to 5 years. Anyway, I encourage you to visit their website to learn more about their growth plan. If you click on the logo, you will be redirected to their website.

Today I bought 4,000 shares for 49 cents per share. This stock purchase is an exception and will not affect my monthly contributions to buy dividend paying stocks. The purpose of this post is to make you aware that I’m buying something else on the side. If I can make a good return from this investment, I will use the gains to invest in dividend paying stocks. Hopefully it works out! I will not include this stock in my “Portfolio” page because it’s not a dividend paying stock. But I will keep you posted when I decide to sell it and invest the capital in dividend stocks.

Please note that I do not make any buying recommendations. There’s still a big risk attached to this stock, just like any other small cap, penny stock. Please do your research before making any investments. If you believe that cannabis space will be huge in Canada, then all odds are in your favour. And if you do invest in that space, make sure to invest the amount you can easily afford to lose. Just like gamble. But be prepared to walk with a ten bagger out of this deal.