Dear Readers,
Due to falling way behind on my posting schedule, I am having to combine the monthly income updates for both October and November 2023. But before getting into the update, I wanted to take a brief moment to say a word about Charlie Munger.
Readers would know that Charlie passed away a few days back at the age of 99. A lot of us know him as Warren Buffett’s “right-hand man” at Berkshire Hathaway, and for his witty one-line and short responses during Berkshire Hathaway’s annual meetings. But beyond those witty remarks is a man with an astounding wealth of knowledge. In my opinion, Munger is maybe the most quoted high-profile investor of our times. Of course, the interweb is full of Charlie Munger quotes, but I think some of the best advice from Charlie Munger came to me through the book Richer, Wiser, Happier which I reviewed on this blog a while back.
The reluctance to reexamine our views and change our minds is one of the greatest impediments to rational thinking. Instead of keeping an open mind, we tend consciously and unconsciously to prioritize information that reinforces what we believe in.
I found this advice so powerful that I have a note of it in a book of quotes that I keep at my desk at an arm’s length away to read and re-read every now and then.
Thank you very much, Charlie, for everything that you have taught me and will continue to teach me.
Let us now get into the numbers for October and November.
Monthly Income – October
| Sl. No. | Company/ ETF (ticker) | Amount |
| 1. | J P Morgan Chase (JPM) | $38.87 |
| 2. | Realty Income (O) | $41.27 |
| 3. | CareTrust REIT (CTRE) | $15.55 |
| 4. | JEPI (JEPI) | $10.37 |
| 5. | STAG Industrial (STAG) | $4.15 |
| 6. | Toronto Dominion Bank (TD) | $6.91 |
| Total | $117.12 |
Monthly Income – November
| Sl. No. | Company / ETF (ticker) | Amount |
| 1. | Apple (AAPL) | $5.32 |
| 2. | AbbVie (ABBV) | $25.41 |
| 3. | Albertsons Co. (ACI) | $5.30 |
| 4. | A.O. Smith (AOS) | $1.93 |
| 5. | Clorox (CLX) | $59.08 |
| 6. | Costco (COST) | $5.15 |
| 7. | Procter & Gamble (PG) | $28.12 |
| 8. | Texas Instruments (TXN) | $132.85 |
| 9. | Verizon (VZ) | $70.76 |
| 10. | Realty Income (O) | $42.26 |
| 11. | JEPI (JEPI) | $7.64 |
| 12. | STAG Industrial (STAG) | $4.15 |
| Total | $387.97 |
So a total of 6 companies/ETFs paid me passive income in October and a total of 12 companies/ETFs paid me in the month of November. Realty Income was my highest payer for the month of October and Texas Instruments was my highest payer for the month of November. Realty Income has been struggling a lot like several other REITs due to the macro economic environment with interest rates being high. But, I think this is short lived, because at some point the Fed will need to counterbalance the drop in inflation levels by reducing the interest rates as well. Timing on when this is going to happen is anyone’s guess, but it is going to happen nonetheless.
Texas Instruments has been heavily investing its CapEx towards growing its manufacturing capabilities, something which management had planned on doing so during the early part of 2023. I am fairly confident that this is the best use of their capital in the short term as semiconductor demand is not going to wane atleast in the next 5-10 years.
So far this year, my total dividend income earned is hovering in the $4300 range, and while I am expecting a huge upcoming month in December with several big dividend payments, I am expecting to fall marginally short of my goal of reaching $6000 for the annual dividend income.
Summary
The year is drawing to a close and I have a few more posts that I would like to knock off before then. Once again, thank you for taking the time and reading thus far and I will see you in the next post..
Cheers,
LWD.
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