I just purchased some more shares of General Electric (GE) in my RRSP, at slightly above$18 per share. I had established a first position in the company this summer at $29, so I am essentially averaging (and doubling) down.
My beliefs are that the company still has good prospects in the next decades. It's been through recessions before and survived. It pays a nice dividend (over 6% right now), so I can afford to wait until the share price recovers.
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2 comments:
Good buy. I like GE as well and it is really tempting to add below $20. I don't like the way the USD exchange has swung thoug.
Hi mg!
My first purchase of GE was made when the CAD was above the USD, so I figured it averages out.
I must admit, though, that the sudden drop of the CAD made me less eager to purchase US companies. The opportunity to purchase GE at such a low price was too tempting, though.
And the exchange rate has climbed from a low of 0.77 (on October 28) to 0.85 currently, so it made for an easier decision.
Another thing to remember is that a lower CAD vs USD means that any dividend paid in USD results in more CAD. :o)
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