With two weeks of 2016 pretty much in the books I am happy to announce my first purchases for the new year. Of course, these buys come at precarious times as the financial world seems to be sitting at a tipping point between total collapse and the slow “melt-ups” we have been experiencing. As one who does not time the market I simply take these dramatic declines as buying opportunities and feel comfortable nibbling on my current positions at more attractive prices, value and yield. That’s not to say that one shouldn’t be cautious with their buys, rather one should simply look to where the current value and attractive yield is being paid today and simply slowly build out a position. After all, no one knows what tomorrow brings, no matter their credential. With that being said, let’s take a look at my recent stock purchases.
Sticking with my January 2016 stock considerations I have decided to buy into the Canadian banks once more as well as an industrial giant.
I have added to my taxable account 18.1379 shares at $44.11 for a total investment of $800.00 in Emerson Electric Co. (EMR). With this recent purchase my taxable account holdings in EMR now totals 76.6915 shares for a value of $3,391.30. I also hold 53.6104 shares for a value of $2,370.65 in my ROTH account.
I have added to my ROTH account 20.9919 shares at $38.11 for a total investment of $800.00 in The Bank of Nova Scotia (BNS). With this recent purchase my ROTH account holdings in BNS now totals 148.2546 shares for a value of $5,620.33.
It’s no secret that I have been liking the Canadian banks for a while and that each of these two purchases all offer safe yields over 4% which makes them extra attractive from a dividend perspective. Sure, near term headwinds abound for these companies, but it’s those headwinds that are beating up stock prices giving us all better buying opportunities among a stewing of general panic.
What do you think about my recent buys? Are you buying into any Canadian banks or other industrial names that have recently sold off? Please let me know below.
Disclosure: Long EMR, BNS