Earlier this year I told you I made my RioCan purchase (REI.UN) close to $19/share.
At the time, I was a little disappointed with my initial purchase price since immediately after I bought the stock, RioCan dipped to $18/share. Ouch – that stung a bit.
Waiting and buying closer to $18/share would have saved me almost $200 or 5% of my overall purchase – but that means I would have known it was near bottom. I can’t time the market, can you?
Well, my RioCan purchase price is somewhat irrelevant now.
Why do I say that?
1) I intend to buy and hold REI.UN for years on end.
2) Even if I saved that $200 for my purchase, I can bet I would have spent that money on something else. That’s just being realistic.
3) In the big picture, it doesn’t matter.
I know have enough shares to DRIP RioCan, I’ve got my RioCan dividend compounding machine running; REI.UN pays me $0.115 per share every month, enough to buy one share at the time of this report.
On the horizon, there’s even more good news – RioCan hinted dividend increases will follow after new acquisitions are completed later this year and early in 2011.
I have no idea if RioCan will be a star long-term, I hope so.
I just know I’d rather be invested than trying to time the market.
If I didn’t invest in February, I might still be sitting on the sidelines, waiting for that illogical perfect buying opportunity. My dividend investing philosophy includes getting investing and staying invested. I intend to prove my process works for me over time.
How about you?
Looking back this year, any purchases you’ve made that have turned out to your liking?