Market News
The TSX 300 Composite ended the week lower than it started, but the S&P 500, DJIA both ended higher than they started while the NASDAQ 100 essentially ended where it started. The TSX was down on worries about a slowdown in the post-pandemic economic recovery and fears over the fate of debt-ridden China Evergrande, a Chinese property developer that is on the brink of missing payments on some of its debt (bonds). If this issue is not resolved it could send a jolt through the global markets. Barring a rally on the TSX next week, the TSX will end September in losses after seven months of gains.
On the US side, the week didn’t start out too well with a selloff on Monday thanks to concerns about the Evergrande. However, they survived a bumpy week to end slightly up for the week.
All the portfolios ended the week with small losses, with Portfolio 3 losing the least. It’s a bit surprising that Portfolio 2 had the largest loss for the period considering it’s the most conservative of the three portfolios. The TSX 300 Composite also had a minor pullback while the three US exchanges all had slight increases for the week.
Nothing to worry about, each portfolio and each index is going to have ups and downs. I’m in for the long term so I ignore these short-term blips.
Companies on the Radar
Nothing really caught my attention this past week but with cash from Great Canadian going private expected to land next week I’ll have to start looking to see if there are any companies I’d like to own or if I should increase ownership in companies already in the portfolios.
Portfolio Update
Portfolio 1
Portfolio 1 for the week ended September 24, 2021: DOWN 
Great Canadian Gaming Corporation (TSX:GC) this company and the corresponding shares still appears in the portfolio but there has been no trading activity since September 17. I expect the shares to disappear and be replaced by cash next week.
Activity
SOLD Cresco Labs (TSX:CL) Cresco Labs acquired Canadian marijuana distributor CannaRoyalty Corp back in January 2020. CannaRoyalty/Cresco Labs was another marijuana company purchased back in 2018 to try and capitalize on the legalization of marijuana in Canada. Cresco has fallen 50% from its February 2021 high (pun intended), the outlook for the marijuana industry is flat for the next year or so and no ‘big’ event on the horizon that would cause the marijuana industry to spike up. With better opportunities out there, I felt it was time to sell before the share price fell any lower and lock in a 50% gain on the initial investment. Of course, the share price rose immediately after selling the shares.
Lesson: when companies rise on hype it is best to sell on the hype rather than wait for facts to bring a company back to reality, especially if you only bought the company for the growth component.
Dividends
Dividends Received this week for the following companies:
Canadian $
No Canadian$ dividends this week.
US $
Quarterly Reports
No quarterly reports this past week.
Portfolio 2
Portfolio 2 for the week ended September 24, 2021: DOWN
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Canadian $
Dream Industrial REIT (TSX:DIR.UN) DRIP
Alimentation Couche-Tard Inc (TSX:ATD.B)
US $
No US$ dividends this week.
Quarterly Reports
No quarterly reports this week.
Portfolio 3
Portfolio 3 for the week ended September 24, 2021: DOWN
Activity
No activity to report
Dividends
Dividends Received this week for the following companies:
No dividends received this week
Canadian $
No Canadian$ dividends this week.
US $
No US$ dividends this week.
Quarterly Reports
No quarterly reports this week.