I purchased an initial position in Walgreen Co. today from my wife's RRSP account. I already own some WAG in our non registered account. Readers of this blog have heard previously why I like Walgreen (WAG) going forward as a long term investment. Check my archives to find out more about WAG. With the Canadian dollar pretty much at par, and Walgreen still shuffling around $45 / share, I thought this was as good a time as any to buy some. The currency change alone over the past 6 months has made this purchase a much more economical one than previously when I first got involved.
The defensive nature of Walgreen is always evident when you look at its performance vs. the index when things go bad for the markets. WAG's share performance from July 15 forward (when things started to go bad for credit markets) when compared to the S&P illustrates this very well.