For those of you just joining us, this is my portfolio that is leveraged with money borrowed from my home equity line of credit (HELOC). As the money borrowed is used to invest, the interest charged is tax deductible. For more detail, check out the modified smith manoeuvre strategy.
Onto the business at hand. I skipped last months portfolio update as I didn’t make many changes to my holdings. Since the last update, there was a large financial and energy market sell off in July at which time we added to Power Financial (PWF), Scotia Bank (BNS), Manulife Financial (MFC) and initiated a position in Husky Energy (HSE). What can I say, I’m a contrarian at heart. Only time will tell if this strategy will work over the long term.
|Stock||Symbol||Shares||Avg Buy Price||Total||Div/Share||Yield|
|FTSE RAFI US 1500 Small-Mid ETF||PRFZ.US||20||$51.50||$1,029.99||$0.42||0.82%|
|AGF Management Limited||AGF.B.T||50||$22.71||$1,135.49||$1.00||4.40%|
|Bank of Montreal||BMO.T||25||$44.17||$1,104.24||$2.80||6.34%|
Total Portfolio Cost Base: $24,549.13
Portfolio Holdings Value (excluding cash) on Aug 27, 2008 : $24,234.51
Total Dividends / Year: $963.25
Portfolio Dividend Yield: 3.92%
Thus far, it seems that my portfolio has taken a small loss in contrast with the big sell offs in the markets. As of today, it seems that the banks are being sold off again as their earnings are coming in lower than expected. Perhaps it’s soon time to add to my financial positions!
Have you added to your positions during the market sell off?If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).