Club Mulgoa

Wednesday, July 29, 2015

Banks

In Australia, collectively, banks are king of dividends.  There are 4 major ones and all make money.  While the public resent how much profit they are making, one should be glad that banks make money.  Otherwise, they go bankrupt and your deposit vaporizes.

Recently, when there was a massive sell off of banks, I was waiting by the wayside.  There comes a time when you feel that for what they will be earning and for what you get as interest with your deposit, it is worthwhile buying to top up my holdings.  And so I have... with the 3 major banks, with nice gains.

1 Comments:

Blogger Club Mulgoa said...

Yesterday, I topped up another small parcel of WBC because of the recent plunge in bank shares after ANZ announce a capital raising. Of course, it went down further. But at the moment, it is back to my purchase price. I very very rarely sell of bank shares so this is a long term buy.

8:55 PM  

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