SBRcanuck wrote:
I guess everyone's situation is different based on age, etc..
I have a good 10+ before retirement (just turned 47), so I have some time to let things recover. I see it as a good buying opportunity for dividend paying stocks.
I'm in Canada (obviously), and I took advantage of the 30-50+% 'discount' compared to pre-covid, and bought into stocks like Suncor, Air Canada, Canadian Imperial Bank of Commerce. Can't remember AC, but I believe the others pay dividends of 6+%. That plus the current low price, just seems like a no brainer. Yes, my already existing investments which were mostly in Canadian Dividend Mutual Funds, those are still down about 20% pre-covid, but I'm confident they will recover even if it takes some time. The stocks I bought into in late March/April, I got them cheap enough that I've made more on them so far than what I lost on my mutual funds. But I think they are still good buys even now.
With regards to real value of the stock market etc, I'm FAR from an expert, like really far, but correct me if I'm wrong, hasn't it been decades since the market really traded based on value?? :)
I’m the same age as you and I went all in on XOM. High dividend and while oil/gas has some issues, I think when greaves picks up again the stock should bounce. I’m going to hang tight and collect dividends. Funny thing is, bank would rather see dividends than “growth stocks” anyway. They just want to see income to prove your viability as a borrower. So, in that sense, holding a loss doesn’t matter to me.