Quote:
Originally Posted by Johnny199r
I remind myself all the time "time in the market beats timing the market" But I dont listen to myself, even though I know it's true.
I didnt put much money in during the spring/summer/fall when I should have. I was waiting for the "pullback". Even if there is a pullback, can I recognize it? Will I try to wait for the bottom and miss it? February had a huge pullback, did I put my money in then? Of course not, I was stupid and wanted to wait for "the bottom".
I'd rather just put my money in and at worst, collect all those dividends, even if I buy during a bad time. Overall in 20 or 30 years, it's not going to matter when I bought.
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I have been pretty lucky in the timing and got out of everything I held last week with the exception of banks, pipelines, oil and gas and gold. Gold has plummeted but I still think gold is going to have a huge run in 2021 and beyond so have been loading up. FIE is paying a great dividend and my cost base was 5.30. Enbridge has been hammered but inter pipeline has been fine. They will come back. XGD which is the Canadian gold etf is at a good price point in my point and at 1,800 an ounce those companies will be doing very well. Issue with canadian mining companies has always been the cost controlling - similar to oil and gas. These commodity companies are awful at controlling costs when they don’t need to.