Canadian Money Forum banner

121 - 140 of 168 Posts

·
Registered
Joined
·
520 Posts
I just purchased some Sun Life floating Rate reset preferreds of Sun Life (SLF.PR.J) in my non registered account. Rate is set quarterly at 90 day Canada T-Bill rate plus 141 basis points.
 

·
Registered
Joined
·
167 Posts
I just purchased some Sun Life floating Rate reset preferreds of Sun Life (SLF.PR.J) in my non registered account. Rate is set quarterly at 90 day Canada T-Bill rate plus 141 basis points.
I'm curious as to your reasoning for this one. Looks quite expensive. Did you purchase as a speculative play on short term rates?
 

·
Registered
Joined
·
520 Posts
Rate resets are the new Gamestop.
We shall see. I have owned rate resets for many years and am pleased with my returns. it’s difficult to compare a heavily promoted flash in the pan common stock to preferred shares issued by major corporations including banks.
 

·
Registered
Joined
·
167 Posts
Rate resets are the new Gamestop.
I wouldn't go that far. Although they have done well recently. I do own a few and I think pretty much everything is in the green now.

The only floating rate I have is I TRP.PR.F It is one of the more liquid issues. You need to be careful with floating rate as they often have very very low volume.

I was trying to find some value but most issues seem well priced at the minute.
 

·
Registered
Joined
·
1,305 Posts
I may be late and I may lose money at this point, but it's only a small position
Obviously it was a bad timing. I don't know why I bought it when I kept saying that tech was getting more and more overvalued and I called the drop after NASDAQ's 14,000. Since I wanted to swap XIT for HBGD, I should've simply sell XIT and wait a little bit...
 

·
Registered
Joined
·
1,660 Posts
Bought some more Teck.b again. I think this has 30%ish gain possible in 2021 if things continue with the economy.
It's too volatile for a long term hold.
 
121 - 140 of 168 Posts
Top