Bank shares

With the current 4-Pillar policy for the banking industry... do not get rid of your bank shares.  Society abhors the banks making large absolute profits.  Yet, for stability of the financial system, you need profitable banks.  In relative terms, bank profit is not exorbitant.  If you are worth many billions, you should be generating billions in profit.

This week, I have been getting dividends from ANZ and WBC.  I have discarded NAB more than a year ago after years of dismal performance.  I have also discarded merchant banks like Macquarie.  But of the banks that I keep, I have been delighted with the dividend.  I cancelled all my DRPs because it is very difficult to keep track of capital cost and eventually capital gains.

Today, I put a buy on JIN.  My wife does not like gambling stock but I am investing not for social reasons.  This stock is growing and expanding into the Americas.  And I received my first dividend from it recently.  How delightful ,too!  Rapid expansion is not always good news.  But software expansion is cheaper....