Hi folks last week I wrote about trimming my positions in JP Morgan and Proctor and Gamble which you can read here. Well last Friday November 25th I made a big decision and decided to sell my entire position in both company’s. The decision wasn’t an easy one, because in my post last week I had mentioned that in the future I would be interested in buying more shares of each company.
Reasons for Selling
- Wanted better exposure to US market
- Canada/US Exchange Rate (The loonie is currently $0.74 making buying US stocks expensive)
- Sold JP Morgan 70 shares @ USD $79.34 =USD $5,553.80
- Sold Proctor & Gamble 50 shares @ USD $83.08 = USD $4,154
After exchanging the money into Canadian I received a total of $12,931.24. Due to selling these stocks in 2017 I will lose $433.23 in dividends.
Thursday December 1st I will post on what I purchased to replace these stocks in my portfolio.
So what do you think of my decision to sell?
Thanks for reading.
4 thoughts on “Big Sell”
Everyone sells for whatever reason they see fit. That’s the beauty of personal finance. I can understand it being quite expensive to buy U.S. stocks these days from a CAD perspective. How things change. Just a few short years ago I remember when the CAD was higher than the USD. That’s the normal ebbs and flows of businesses, currency and economic cycles. I hold PG and have no plans to unload those shares any time soon. I’d love to buy more but not at current values. I’m curious to know what you replaced those two names with.
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[…] everyone back on Monday November 28, 2016 I wrote a post titled Big Sell in that post I mentioned that I would announce what I did with the cash I received from selling […]
Sometimes it’s not easy to sell stocks that you want to own in your core portfolio. However, moving from two stocks to cover the whole index is a prudent move. Not to mention, it’ll stabilize your whole portfolio and make it less volatile. Giving up some dividend is a small price to pay.
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[…] you can see compared to last May my income decreased by $4.18. The drop was due to my selling Proctor & Gamble shares last year. I almost got my income back up to the same level thanks to dividend increases […]