RIO

Last year, I sold some RIO to fund a SPP in RIA.  But after selling, I bought back some RIO shares at a lower price.  The timing was not great.  The share price of RIA has fallen while RIO has come up!

My consolation is, at least the share price of RIO is over what I bought back in early 2012.  RIO has not been a good investment between 2006 and 2008 before the GFC.  But for those courageous enough to dip in in 2009, the reward has been great.  I did.  I bought the rights issue at $28.29.  It was silly not to buy as the share price has already climbed over that issue price.

RIO and BHP are very poor at paying dividends.  I sometimes wonder why they are classified as "blue chips".  The banks have been far more rewarding provided you don't touch NAB!