Banks
When banks have been sold off for no obvious recent reason, you ask why? If there is no reason, then there is no reason not to buy. Only CBA can be left alone for the time being. The time bomb for its ATM deposit non-compliance issue is yet to explode.
My wife never questions my investment strategy. She was happy for me to top up our ANZ and WBC bank shares. They are our biggest investments this month. Unlike what I buy normally, these bank shares went up! And up again today, making me an almost instant 2-3% profit.
Nice to be contrarian especially when the reason for being a contrarian is correct :-)
posted by Club Mulgoa @ 5:23 AM
2 Comments:
Today, ANZ announced a nice profit but it is obviously below what fund managers expected. Nevertheless, it is big profit. And there will be a dividend. So why do the hoards of investors dump the shares?
I have no idea why but I bought some more! It is a near monopoly, it makes good, reliable and consistent profit and the dividend is higher than interest on deposit.
Banks dropping again... so yesterday I topped up on ANZ and WBC.
Why do people sell banks? I have no idea why except when it goes ex-div, it usually goes down for a good reason.
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