This is TFSA Trouncers, a series that profiles Canadian investors who’ve accomplished incredible feats with their tax-free savings accounts. If you have grown your TFSA to half a million dollars or more, drop us an e-mail at. You may choose to be anonymous, but we do require an e-mail address and may request a screengrab of your portfolio for fact-checking purposes. We’ll also be profiling people who haven’t been so lucky with their TFSAs.
Able, 65, lives in Toronto and was a captain with the city’s fire services before retiring on a pension in 2016. In 2015, he bought a stock that took his tax-free savings account to more than a million dollars (verified by screenshot). As an investor, he is a fan of Peter Lynch, a fund manager who regularly beat the market a few decades back. His books reveal that many of his stock picks were based on what he and others consumed. Due diligence often consisted of trips to the shopping mall with his wife. Able remembers the events leading up to his big stock pick. It all began late one night when an alarm call came in for a fire at a medical marijuana facility, operating under the name of Bedrocan. After the fire was extinguished, he got to talking with the “key holder” of the facility and learned that Bedrocan was a subsidiary of Canopy Growth Corp.. He also learned that Canopy traded on the Toronto Stock Exchange, where its value was tied to how many clients it had. Able, who had a medical marijuana card, was one of Bedrocan’s customers in 2015 when the company “dropped the price of their flagship strain from $8.50 to $5.00 per gram.” He knew they would quickly gain a lot of new clients from this move. Furthermore, the federal Liberals had made a promise in the 2015 election to legalize marijuana for recreational use. Given the price reduction on medical marijuana and the party’s pledge on recreational marijuana, he decided to load up on Canopy shares in his TFS
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