It’s a “STOCK” picking contest!

All negotiations broke down in the FI Garage the other day. I had heard about a stock picking contest that is run by Paul over at Asset based Life. It features a few of the other Canadian PF bloggers that I enjoy reading, and who have great content when it comes to investing. I thought it would be fun to join in and see if I could keep up with these people. I guess the Accountant and the Economist didn’t quite get the point of it all. They were adamant that we just pick the usual index ETF’s that track the US, Canadian and International markets. While this is definitely the way we would do it in real life…..It is just soooooo boring. I mean how often do you get given $100,000 to take a few fliers in the stock market. I even tried to reason with them and offer $50,000 for the index funds and I would play with the other $50k. They were having none of that, so screw them, I tried to play nice. Now they’re off tracking their ETF’s to see if they can beat me and the rest of the contest!! Don’t be surprised if they give up halfway through the year due to boredom.

What did I pick anyway?

I have to admit I struggled a bit coming up with my selections. I was a week late to the party, so I missed on some of the initial gains in 2019. Another factor was that I didn’t want to copy my portfolio from the other participants. I mean, I read their blogs and find their analysis of stocks is pretty darn good. I, unfortunately, don’t do a lot of stock analysis!! Well, I do, but only for quality dividend paying equities that I plan to hold forever. Probably not the picks that will hit it out of the park on a one-year time frame. I’ll be looking to shuffle some positions around as the year goes on, and hopefully pick (or guess) at some good prospects. If nothing else this contest will probably serve as a good example of why the FI community at large believes that index funds are the most sensible way to invest for the long term. Well, let’s see if I can get lucky this year a trounce the Economist and the Accountant. I’m currently 13th place in the contest, which isn’t last! Here’s a list of my existing holdings…

What do you think readers? I’ll take all the help I can get.

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About the Author: Money Mechanic

The Money Mechanic is a 40 something 50% of his way to FI. Active in the FI/RE community. He is passionate about personal finance and educating others and sharing the tools you need on the path to Financial Independence in Canada.

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