When you’re just getting started out as an investor, one of the first things you’re going to want to do is round out your portfolio in such a manner as to get the “best bang for your buck,” so to speak.
And what I mean by that is, diversification is one of, if not the ultimate keys to success in investing, but as a new investor, it’s very unlikely, next to impossible, that you’re going to be able to create a properly diversified basket of stocks straight out of the gate.
So, you’re going to need to stay focused — at least during the beginning stages — on building your portfolio of investments using a handful of core, premium-quality holdings that aren’t going to leave you exposed to too much unnecessary risk, as you work on gaining that critical mass you’ll eventually use to accumulate loads of wealth as a truly successful long-term investor.
Meanwhile, as far as Canada is concerned, you could make a strong argument that the Canadian oil sands are our country’s single largest asset.
Suncor Energy (TSX:SU)(NYSE:SU) is the largest owner operating within the oil sands, and its stake in the oil sands gets even that much bigger when you factor in its majority stake in Canada’s second-largest oil sands operation, the Syncrude joint venture.
Warren Buffett famously bought a large stake in SU stock years ago, only to reduce that position over time, as oil sands economics have suffered as oil prices have fallen.
However, if oil can ever get back to north of $100 per barrel, this could potentially be a very attractive investment that could provide very significant compounded returns for investors.
If you’re the type of person who cringes at the thought of investing in a technology that runs the risk of destroying our natural environment, you may like the idea of investing in a company like Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) as a complement or even as an alternative.
One thing I love most about the idea of investing in BEP stock these days is that not only do you get to feel good about helping create a cleaner, greener future, but you also get the benefit of a very significant 6.37% annual dividend yield from this forward-looking company.
Over the past decade, governments around the world, including several G-7 nations, continue to make big investments in renewable power sources.
This is a long-term play, without question, but the stock’s current 6.37% dividend is certainly a nice paycheck to collect while you wait it out.
One of the other major stories we can expect to play out over the coming decades will be the aging baby boomer population.
Over the years, “boomers” have done an exceptional job of creating wealth for themselves, thanks in large part to what has been a historic run in North American housing prices.
As the population continues to age, they’re going to want — and need — more healthcare services.
Thankfully for them, they’ve got the money to spend, and it’s hard to see a reason why a company like Sienna Senior Living (TSX:SIA), which operates one of the biggest chains of long-term care facilities throughout Ontario and British Columbia, won’t stand to benefit as a result.
Not only that, but SIA stock also yields investors a 4.87% dividend at present, so this is absolutely another one that you can afford to hang around and wait for.
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Fool contributor Jason Phillips has no position in any of the stocks mentioned. Brookfield Renewable Partners is a recommendation of Dividend Investor Canada.