The first stock buys of 2022 – TFSA maxed out

Here we go again. I already maxed out my TFSA account and spent every single dollar on stocks. Can’t help it. As soon as the money hits the account, I got to go on a shopping spree. Am I a stock addict? Here’s what I bought:

As you can see, I mostly bought blue-chip stocks, and these are all the companies that I already own.

I believe we’re in energy super cycle again. I talked about it 5 years ago, predicting that we will have another bull run in the energy sector and it is happening at the moment. Hence, my continued investment in oil and gas companies such as Enbridge, TC Energy and Pembina. The world needs oil and gas and I just don’t see the renewables taking over for at least another 20 years. That’s why renewable is out of favor and that’s why stocks like Algonquin is falling. Apart from company’s internal problems and potential interest rate hikes, which is bad for many stocks, the whole renewable sector is in the whole. But I love that because I keep on buying Algonquin on the dips. But the dip keeps on dipping and I just buy more.

In the telecommunication sector, I picked up Bell and Telus. I still don’t own Rogers, and after a recent family feud in the company, I don’t want to invest in Rogers anymore, unless there’s a big change in board members. But I like Bell and Telus and I think I will do well with just those two stocks. Wireless used to be a luxury back in the day, now it’s a necessity. I don’t see the world without smartphones and the internet. But, Bell and Telus will have to get on board on the metaverse because we might not even need a smartphone ten years from now. Who knows?

Apart from energy and telecommunications stocks, I also picked up NFI Group. The price is too low to ignore and when I have extra cash, I put it in NFI Group. NFI is a leading electric bus manufacturer and they are under pressure because of the whole supply chain issue. But when the pandemic is over this stock will double. But I don’t buy it because of the double potential. I think they have a bright future. They have a chance to become the next tesla but in public transit. Public transportation is always in demand and no matter how much debt cities have, they always get approved for public transit expenditures, because public transit is a necessity.

That’s it for stock purchases for this month. My TFSA account is maxed out so I can’t add cash to it. But I have a regular account which I will load from time to time.