hi all, New to stock market and what experienced people think about current bank shares? Looking for 5-10 year buy and hold and which Au banks have the better return in the long run? Thanks
welcome to InvestChat , i faced a similar problem back in 2011 and made these decisions i bought heavily ) for me ) MQG about 7 fair sized buys as the shares slid viscously from $31.93 to $20 ( in 3 months ) , ( good luck trying to buy MQG below $30 now ) i bought MQG as i decided i needed share price AND dividend growth in the next 10 years ( by 2020 , ideally ) ( i have since taken significant profit ) i also bought a reasonable amount of WBC ( av. SP $20.50 ) as a ( dividend ) yield play betting Ms Kelly ( CEO at the time ) would make sensible decisions running the business ( the current RC makes it clear the competition wasn't that sensible .) but that was then and not so big a help for you currently ( since May 2017 ) i have be buying the occasional small parcel of ANZ , ( as it slides , it has plenty of pain to come ) on the logic that it's JV into issuing ETFs might be a sensible growth path ( unlike their previous Asian adventures ). the major banks will face extra reforms and regulations in short term future so there is plenty of risk still ( for a $20+ share ) so please think carefully also DO NOT neglect AMP i think around $2 ( and all the new management ) it has some potential as a straight investment bank ( it will be a long painful recovery after all the past is fixed up , if it isn't taken over in the meantime . ( it is the JV partner with ANZ in the ETF venture but might be compelled to sell that share ) ( DYOR )
Hi, AMP took a long time to reverse to 2.50. It may not drop much more than that. I bought at 3.08 and continued buying and then decided to dispose of all of them at a small loss of $850 Yesterday I bought at 2.64 and of course it promptly fell to 2.5 and then today it went back up. Story of my life!! Take care and good luck KY
i need more clarity before i invest much in AMP ( i exited last week @ $3.25 ... i wasn't impressed by the new board appointments ) i will consider $2 ( or lower ) it has been just so disappointing considering all the indiscretions it has racked up in the last decade good luck
Thank you for the insight. I bought a small amount of ANZ a few weeks ago and it went down. Hopefully, long term should be okay. Still learning .
i hold some ANZ ( my big bank holdings , by $value , is MQG , BOQ , WBC BEN , ABA , SUN then ANZ, ) but extra ANZ is the only bank high priority on my shopping list ( i am willing to average down on it ) don't be surprised if ANZ lowers the dividend , international interest rates are creeping up , so resisting extra borrowing might be a pivotal move ( towards long term profit ) learning will be a big help ( stay calm , the good times rarely last forever , but bad times reveal some extra bargains )
Hi, look at AMP! I'm happy I got out alive. I'm currently holing 1000 shares at 2.64 I did buy at 2.31 and mad $600 to offset the $800 loss earlier. an interesting exercise to say the least. will monitor. KY
am looking at ( a potential ) re-entry in AMP below $2 there is a lot unclear in AMP this is very high risk ( including an opportunist take over ) good work making a profit in the latest volatility
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