I’m going to start a new series on my site entitled Then and Now where I revisit some older blogposts and either rip them to shreds (because my thinking has changed since then) or I’ll confirm my position on some personal finance subjects. I have no idea how often I’ll run these types of posts but I figure it would be something fun to try. It might be interesting to learn from my past so I can apply those lessons learned for the future.
My interest is in the future because I’m going to spend the rest of my life there.
– Charles Kettering, American Engineer, Inventor of the electric starter, Former head of research at GM.
Today’s post will look back at my purchase of Enbridge almost 6 years ago. Enbridge (ENB) was my first blue-chip Canadian dividend paying stock. I purchased ENB at a time I was starting to unload many of my high-priced mutual funds within my Registered Retirement Savings Plan (RRSP). These were the days before My Own Advisor was launched and before the Tax Free Savings Account (TFSA) existed.
- I started buying Enbridge, with a $500 purchase using their Transfer Agent (then CIBC Mellon Trust), in December 2008.
- I continued buying Enbridge using the Transfer Agent, taking advantage of the full Dividend Reinvestment Plan (DRIP) throughout 2009 and into early 2010.
- I stopped my full DRIP with the Transfer Agent before the end of 2010.
- I transferred all Enbridge shares to my discount brokerage.
- I received a 2-for-1 stock split in May 2011.
- Enbridge makes up just over 3% of my portfolio.
- My return on this stock is well over 100%.
- I have no intention of selling this stock.
Investing is not this easy. I feel in hindsight my decision to buy (and hold) Enbridge was a bit of a no-brainer but there are no guarantees. Not every investing decision comes up roses and while Enbridge has been a bright spot in my portfolio to date, the future is always very cloudy.
What do you make of this series? What to read more “Then and Now” posts in the future?