Halloween is getting techie. Walking into the local Home Depot recently I was amazed to see a Halloween display with a 7 foot tall Frankenstein and Zombie looking down at me while moving and growling. Cool! Animatronics at work. As long as they don't put learning AI in Frankie, I'm safe.
Wealthsimple sent me an email that they are celebrating their 10th anniversary and I remember when they started up. Managed portfolios with a low management fee and no commission fees for Trades plus a high interest saving account with CDIC protection But they were new and businesses go bust everyday if their product or service doesn't appeal to people.
Today they have over 50 billion under management and growing faster every year. Their next goal is a trillion under management while they evolve. I read a couple articles where Wealthsimple could be fielding some purchase offers from the big banks of Canada where it's about a growing competition.
Watching and reading about them, I'm comfortable with Wealthsimple Trade these days, which also has options such as partial trades and a toggle off and on option for auto-repurchase into partial/whole shares from dividends or distributions paid to me.
Continuing with the Halloween theme, a snippet from their recent newsletter dated October 15th ...
Witching hour
Isn’t Halloween the best? Investors get to knock on the door of every public company, and — trick or treat! — get a Q3 earnings report tossed into their pillowcases. The frights! The thrills! This particular earnings season will be a big test for U.S. and Canadian markets, both of which notched new record highs last week. Have investors been right to be so exuberant? Or are consumers starting to cut back? And what effect, if any, is China’s quicksand economy having on companies? The answers started rolling in last Friday as the big U.S. banks reported earnings. JP Morgan, the world’s biggest bank, led the way with a so-far-so-good report, but we’ll get a lot more answers over the coming three weeks as earnings season peaks. We’ve seen enough horror movies to know how fast a keg party can turn into a bloodbath, so cue the Halloween theme song and remember: this is supposed to be fun.
I decided to buy JP Morgan's ETFs shortly after they became available here in Canada. JEPI and JEPQ, which I mentioned in my previous post. So far, so good and a gain to date on both as I await the first monthly distribution announcement.
My jump into the US market in a high yield way and I'm also interested in Schwab's SCHD, US Dividend Equity ETF with a market cap of 133 billion and a low 0.06% management fee. SCHD pays quarterly but I like the steady gains with top name company holdings like Home Depot, Blackrock, and Pepsico in the list of the current top ten holdings. I'll update on that decision.
The plan is to eventually get into some of the top US individual stocks by yield in a US portfolio but for now ... I'll do the ETF route for broad coverage and distribution income.
Meanwhile, my monthly buys into Canadian dividend paying stocks continue with companies like Enbridge, ENB and Fortis, FTS on my radar for the first half of November, 2024.
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