November 2022 Investing Update

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For the month of November, the DOW gained 1936 points. That is a 5.6% increase from the prior month, helped by signs that inflation numbers are headed down. My interest and dividend income was $1,331 for the month. Withdrawals for living expenses came to $1,148 for November. YTD my investments are down by 8.67%. My only trades for the month were buying another 50 shares of FTXL at $55 per share and 200 shares of AQN at $7.40 per share. Algonquin Power & Utilities Corp., owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The company missed 3rd quarter earnings estimates by 6 cents and the stock price dropped by 35%. AQN currently has a dividend yield of 9.5% with the next payout due in January 2023. This is a small cap power company headquartered in Canada. Dividends have been increasing, but I think the fear is that any underperformance could impact that trend.

I also decided to sell all 250 shares of Global X Fintech ETF (FINX) this past month. After looking at the holdings of this ETF and thinking that more crypto companies could go under, I decided to sell at a loss and invest that money elsewhere. With money market rates approaching 4%, it will only take a few months to regain the money that was lost. There are a lot of reports in the news about companies laying off workers. But the employment report that came out today shows a steady 3.7% unemployment rate. I think that is a lagging indicator and the number will be closer to 4% in December. It is strange that people need to lose their jobs in order for stocks prices to go up. Companies that sell big ticket items will be reporting lower profits in the months ahead. We will have to wait until the Fed stops raising interest rates before our investments can begin to recover from 2022.

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