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Transalta Renewables Quotes by TradingView

Educate yourself

Educate yourself to make better decisions
I have started building my portfolio in January this year(2018). I thought it would be easy to buy low, sell high. That should not be a problem right? Nope. I ended up with a whirlwind of emotion-based decisions. I find most successful dividend investor does not simply buy a stock on 52-week low. They have a set of points to look at before considering to buy a share of the stock. But most importantly their mindset, I find, is set to their long term goal. I believe that their mindset is more important than knowing what is on the financial statements of each company. This is the reason why I started to build a book list. I want to further educate myself and build a strong mindset to reduce the emotion-based decisions down the road.

I have compiled a book list with the help of the members of Canadian Dividend Investing Facebook Group and some searching in google. I also found some books recommended by Investopedia and BusinessInsider. Personally, I have only finished reading one book about investing which is "The Richest Man in Babylon". I actually read this couple of times but I have read it thoroughly understanding and appreciating the whole content just last month.

The order of the books does not necessarily denotes the importance of each book. I will be continuing to add more books for dividend investing to the list as time goes on.

The BOOK LIST

1. The Wealthy Barber by David Chilton
   
   For more information, click here.


2. The Intelligent Investor by Benjamin Graham
   
   For more information, click here.


3. The Richest Man in Babylon by George S. Clason
   
    For more information, click here.


4. Get Rich with Dividends by Marc Lichtenfeld
   
    For more information, click here.


5. Stop Working by Derek Foster
   
   For more information, click here.


6. The Big Short by Michael Lewis
   
    For more information, click here.


7. The Little Book that Still Beats the Market by Joel Greenblatt
   
    For more information, click here.


8. Unshakeable by Tony Robbins

 For more information, click here.


9. The Little Book of Value Investing by Christopher H. Browne
   
   For more information, click here.


10. Rich Dad, Poor Dad by Robert Kiyosaki
    
    For more information, click here.


11. The Essays of Warren Buffett: Lessons for Corporate America by Warren Buffett
    
        For more information, click here.
12. Beating the Street by Peter Lynch
    
          For more information, click here.


13. Think and Grow Rich by Napoleon Hill
    
          For more information, click here.


14. The Money Game by Adam Smith
    
            For more information, click here.

May 2018 Update

I am a little delayed for my may update but here it is. So May was a rough month but a good month. I had some bad and good buys and sells. I will go over my trade activity first.

Here are my buys for this month. Mostly my buys are just averaging down my current holding as they dropped in priced this month. Some are to get my foot on the door sort of thing, like my IPL.TO buy.

 I bought

BK.TO               53+3+21 shares
HPF.TO              4 shares
DGS.TO             50+7 shares
ESI.TO               40 shares
DR.TO               10 shares
IPL.TO               18 shares
PDC.TO             4 shares
AQN.TO            1 share

Here are my sells for this month. I became emotional about my ALA.TO and sold it for 24.84$ just when it bottomed during the dip after the ex-dividend date. That was not a smart move. few days later it recovered. So that is one lesson I keep on relearning. Do not be emotional. I am not sure if we will see the price $23.02 again but I will slowly build my shares in ALA.TO.

I sold
LB.TO 15 shares
KEY.TO 30 shares
XIU.TO 2 shares
ESI.TO 40 shares
ALA.TO 45 shares
AQN.TO 1 share

For the fun part, I received a total of $100.3 CAD this month. This is the first time I am hitting my $100 target. I am excited about June, despite of stocks I sold this month. So far, my quarterly dividend income has reached $176.92 CAD.

I hope you all had a great month as well. Cheers!


Disclaimer: I am not licensed and/or professional investment/tax advisor. Thoughts and opinions mentioned in this blog should not be taken as a recommendation. This blog is created to share my experience and trading/investing activity for entertainment and/or educational purpose. Trade/Invest at your own risk.

Compound Progression