Which bank?

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