OPTIMISM #7 - June 10, 2020Dear Clients and Friends,
I am sharing a funny story a client reminded me of.
In late 2009 RBC stock (RY) was rising out of the ashes of the 08/09 crash from under 30$ per share.
I was scrambling to get an RESP set up for my kids’ education fund.
We had just renovated a house and cash available was lean.
Mentally I wanted to buy shares while RY was under $50 and I feared I would miss the chance to buy if I couldn’t get the account set up in time.
The account took longer, shares went above 50$ and I did not buy them, feeling I had failed and the opportunity was lost.
The shares hit 109$ a few months ago and since 2011, the dividend has increased each year.
At that point I had a decade and a half of experience yet knew so little.
It’s funny in hindsight, except that my eldest daughter is off to University this fall (hopefully) with a smaller account than she would have.
I still have much to learn. Maybe you can avoid some of my mistakes.
Summer is nearly here. Have a great week!
Derek Moran R.F.P.