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How To Manage Your Portfolio in a Correction

I had plans to review some companies but with the market corrections I felt like there were so many bargains out there that many companies were worth picking up. At the same time, panic from others is creating confusion about when we will hit the bottom and timing a purchase or a sell. With the markets down and the attempt at recovery, I realize that what is best is to create a plan. Create a Plan – Avoid Emotional Reactions Here are some steps to be in control Step 1 – Look at your portfolio and assess each of your investments. Do they belong in your portfolio as companies? Do you want to be an investor in those companies? Ignore the profits or losses and just evaluate the investment on its merits. Step 2 – Review your sector allocations. With the stock price adjustments ...
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How To Manage a Sudden Inheritance

When receiving an unexpected large sum of money, it can take you by surprise and your emotional want and need may be in conflicts. Depending on your age and current state of affairs, different approaches will be needed but one common step everyone should do is make a plan. I won’t go into all personal situations that could influence the actions taken but I will outline some general thoughts on the process. 1. Pay ALL Credit Card Debts If you have credit cards debt, pay them off and learn not to have credit card debt. This is a no brainer. 2. Consider Paying Off the Car Loan Car companies make it easy to buy cars now. Forget the total price you actually pay, everything is broken down into monthly cost and they will ask you how much you can afford per month and give you a loan to match ...
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When To Sell a Stock

The Canadian market has definitely pulled back in the last while. If you are only invested in Canadian equities, the market must be testing you with the pull back. I have been diversified across the US with conglomerates at a 50/50 for now. It’s also very important to control your emotions and follow your strategy. When To Sell a Stock We spend most of our time looking for opportunities but sometimes we need to sell a stock and it’s a different mental process. Make sure you put aside any emotions and just evaluate the investment as is. Until you sell, it’s just a paper loss. Below are some warnings or signs that you may want to consider selling. Sign 1 – Dividend yield too high A high yield is a preliminary sign that a dividend cut is imminent. It’s the investors ...
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