I differ with Sandia, in that I think where money sits actrually matters - in an RRSP, I don't expect to see the money for decades and invest accordingly.  Guess where my Magna investment sits?  :facepalm:

To topic, the TFSA is money short-term, designed to allow withdrawal and recontribution.  So only pretty liquid issues (high daily volume).

Personally I  treat my TFSA as an "eyes and ears" account - with an outlook a year or two out in my local economy.  I want to be able to walk into the places I invest[ed] in - Canadian Tire, RBC, Tim Horton's (when it was THI), Metro, Sobey's, Apple, and get a feel for how the business is doing and what they offer. My REITs own office towers I walk through all the time.

As a vancouverite shut out of the real estate madness, you might also look at investing in REITs - they are taxed at 0 in a TFSA, pay dividends with nice reinvestment plans. Start with names you see around town at good locations.
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