Oh, what a portfolio it was.

When I completed the Financial Uproar borrowing to invest portfolio, it was literally the greatest thing in the history of mankind. Angels sang in the heavens. Republicans and Democrats stopped fighting to collectively praise it. Jim Cramer FELL TO HIS KNEES and praised Allah. He’s Muslim, who knew?

I promised quarterly updates on the thing, so here it is. Yeah, I know it hasn’t been exactly a quarter yet, but I was looking for something to write about today and it seemed like a good idea. Regular readers learned to stop expecting quality a long time ago.

Anyhoo, enough teasing. Here are the results.

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Some notes:

  • The portfolio is up approximately 3%, excluding dividends. We’re flirting with 4% if you include dividends, which is lagging the TSX a bit. The TSX Composite is up 5.1% over that time.
  • U.S. stocks really helped, mostly thanks to the currency conversion back to Canadian Dollars. Hopefully the dollar stays weak so I can collect some sweet virtual dividends.
  • Both Extendicare and GM were up more than 10%. I continue to like Extendicare, and I recommended family members buy it as a yield play. I’ll write more about it at Canadian Value Investing in the coming days.
  • The Bank of Canada lowering rates helped me too. That gave Calloway and Pizza Pizza a nice boost.
  • The big dog was Bombardier. Someone suggested in the comments that I should have gone with the preferred shares, which was the better move in hindsight. Now that the Bomber has cut its dividend to go along with the bad news baked into the stock, I have $2,940 plus $361 I didn’t spend in the first place.

Which will be the new Uproar Borrow (KINDA RHYMES) stock?

There are a few stocks I like in Canada. Extendicare is one, but I don’t really want to buy more. Too many eggs, not enough baskets. I like Dream Office REIT (disclosure: I own it), but there are already enough REIT/interest rate sensitive stocks in the portfolio. I also like Manitoba Telecom, but I think it’s only a matter of time until it cuts the dividend.

But saying all that, I’ve just spent the last 10 minutes thinking about a stock to add that pays a dividend and isn’t a small-cap, and I can’t think of a thing. So Manitoba Telecom it is. I bought 120 shares at $24.52, which is expected to throw off $204 in dividends annually. I think this gets cut soon, but I’m okay with that. It’ll likely yield about 4% going forward, which I’ll gladly take.

And that’s about it. I”m happy with the performance considering how Bombardier blew up. That shouldn’t happen each quarter. And by the time I update this post again, I’ll have earned enough in dividends to easily cover the first year’s interest. That means I can start paying off my imaginary loan, which I’m sure will make my imaginary banker happy.

Tell everyone, yo!