Looking back – RioCan purchase was a good move

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?

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