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  5. BAC: I have some available cash in my TFSA (CAD & USD) I was wondering what are you preferred stocks to buy and hold over the summer now that the debt ceiling is lifted. [Bank of America Corporation]
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Q: I have some available cash in my TFSA (CAD & USD) I was wondering what are you preferred stocks to buy and hold over the summer now that the debt ceiling is lifted. I am looking for something with short term growth potential over the next 4 months but not high risk.

Thanks
Asked by Nancy on June 06, 2023
5i Research Answer:

Four months is a very short-term time period to have any equity exposure. In a case like this, we would consider sticking to large-cap common shares or even large-cap bank preferreds such as RY/TD or C/BAC. We could also live with a consumer name such as ATD or MRU. But we really would advise against equities unless one has at least a 2 to 3 year timeframe. 

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in BAC.

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