Small adjustment – RY to T

based on two factors:  a) canada real estate bubble anxiety and b) T yielding 5%.  I own two of the 5 Big Canada Banks (BMO and RY), but today i reduced my RY by 30%.  Took those funds and a bit more and purchased more T for the 5% dividend, and lower capital risk.  I may also add to VZ position above 5%.  Everybody seems to hate VZ and T these days, and that usually means the floor is close – and i have a hard time seeing their businesses going away or even declining materially any time soon.  Of course, they (VZ / T) need to figure out a higher ARPU and avoid being commodity digital conduits.

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