My first stock was actually a technology mutual fund that I bought from Altamira Investment Services Inc. in the early 1980s, when I was in university in my early 20s. . I held on to that fund for several years, including when thebubble burst in 2000 and the value of it dropped significantly. I was shell-shocked, like many other investors, but I stayed invested. Then, as I started earning money in my career as an engineer, I started diversifying my portfolio by purchasing more mutual funds.
I was wary, given we had just gone through the global financial crisis, but she said that Canadian banks were much more stable than in the U.S. I decided to buy Bank of Nova Scotia because that’s where I held my mortgage. I bought that stock for about $29 in January, 2010. I’ve owned it and have been collecting dividends ever since. It’s now trading at about $77.I learned to buy solid dividend stocks and be patient.
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