The exact quote that inspired my investing idea was:
I don’t remember the comedian, but I remember someone saying (maybe it was a financial advisor, I mix them up with comedians a lot ), that said, you would do better to buy stock in Banks than it would to put your money in them.
Since that post, I have altered my investing methodology and gone with a mostly passive investing methodology, where I mostly own Index Funds and have introduced a few ETFs as well. I have however held onto the bank stocks that I bought back then, mostly because they keep:
- Appreciating year over year value
- Creating very nice dividends, which are now part of a DRiP set up with TD Waterhouse
I guess my investment method is a hybrid with both Passive and Active parts, however, given I don’t plan on selling the Bank stock that I have (i.e. following the old buy and hold investing idea, which is one of the tenets of passive investing) I still think I am a Passive Investor.