OPTIMISM #7 - June 10, 2020

Dear 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.