Index Trading

[bochman]

good luck in that.

Unlike resources companies, where they cannot just charge higher price to offset the tax.

Banks, ha, will simply not reduce rates and increase other charges to offset it.

competition? what competition?

[farmer fred]

I've often thought that having four of the top five companies on the ASX being banks is not a healthy state of affairs for our economy.

 

Maybe thats why we have overpriced houses, resulting in overpriced wages in comparison to the rest of the world and an uncompetitive economy apart from our resources.

[early birds]

i said many times when big4 trading at basement price not long ago that GFC killed competition for our banking sector.

but for CBA traded at PE 15.5 and yield at 6% or less atm, where is 15 times earning come from for this year?

yeah, they lifted divy by 20% for intrim, but they gonna cut final divy for next. so what's good about CBA for remind of ths year.

i'm short and try to stay on the short if they don't force me out{ rally big time from current level}

just so sad for our super, these fundies are bunch of morons who sit on the sideline when banks trade really low with higher yielding

and chase it right now for fear of missing out and loss their jobs. so sad our hard earned money is in those F%&& wits hands!

soon the market correcting and they will hold on the bag with our money!

 

 

[wren]

You are not wrong eb.

Recently,The Future Fund was banging on about its great 12 monthly performance--9 or 10% from memory.David Murray (who proves once and forever that anyone can run a Bank in Australia) and his team of 76 (not a typo) advisors flogged off almost all of their enormous holding of TLS at about .$2.75,thereby missing out on one of greatest large cap.rallies for years.

Also of interest is the Banks who do nothing (CBA,WBC) outperform those that had a go outside OZ. There is a lesson there somewhere!

[lgrif]

G'day EB. ~Nov & dec 2012, heaps of advisors were chanting "buy the 4 banks & buy Telstra", so one up for them.

re Bank rip-off's , their mantra is - we need strong banks, not Euro type failures; so, if ya can't beat 'em, join 'em.

 

Wren, good point re non-offshore operating banks outperforming others, & if NAB succeeds in off-loading UK operations,I expect it's sp will spike.

[wolverine]

Well said wren. I have so little time for a number of name brand ex-CEO's who have shown ineptitude with a high price tag.

[gollygosh]

Nice day for the asx to not update indices , dam twits . Only the insto's can do these calcs when the asx is kaput .grrrrrrrr

 

gg

[arty]

Thanks gg,

... and I was just about to send my data provider an abusive email.

You saved me some embarrassment.

 

PS: They're back on track now (10:20 AEDT)

[early birds]

bought some BHP at open since i've only got 1/4 of rio left, too much cash and missed run of BHP.

i like the results! and out look for their products!!

 

stuned to see CBA in the green, they will pay less divy than last year for the final divy and it is half year away, and fundies still pilled up in it!!

 

 

[gollygosh]

Here is hoping that it was just a computer glitch and not some form of distribution like 2007 . Although I note in 07 they turned spi off to distribute stock but it backfired when the locals dumped stock .

Of course the above scenario is just a rumour and the bankers and insto's who bought and sold a largish parcel would never confess to the real story .

 

gg