NAB takes a Hammering

Discussion in 'Share Investing Strategies, Theories & Education' started by Redwing, 26th Jul, 2008.

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  1. Redwing

    Redwing Well-Known Member

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    See that NAB has taken a hammering Friday

    I recall Steve N mentioning some concern about NAB venturing into the US market again some time ago, as the last time they did they took a tumble, he was even thinking about their position in the fund

    Buying opportunity OR of sign of things to come:confused:

     

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    Redwing, 26th Jul, 2008
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  2. BillV

    BillV Well-Known Member

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    Redwing

    I'd say the later.
    There is some critisism on their decision for such a huge write down based simply on estimates.

    Some could say it was a clever move by John Stewart to get it out of the way all at once but if I was a share holder I would be very upset.

    From what I read there could be more to come.

    Analysts fear more NAB calamities
    Analysts fear more NAB calamities | smh.com.au
     
    BillV, 26th Jul, 2008
    #2
  3. crc_error

    crc_error The Rule of 72

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    buy in gloom sell in boom!
     
    crc_error, 30th Jul, 2008
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  4. Smartypants

    Smartypants Well-Known Member

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    Does anyone have any idea if the Navra fund is still carrying a lot of bank shares, especially NAB :eek:?
     
    Smartypants, 30th Jul, 2008
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  5. crc_error

    crc_error The Rule of 72

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    what a wonderful rebound today from the banks.. I'm sure those who are buying now will laugh in 6 months time..
     
    crc_error, 30th Jul, 2008
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  6. Tropo

    Tropo Well-Known Member

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    Yep.....buy, buy, buy and...goodbye...:rolleyes:
     
    Tropo, 30th Jul, 2008
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  7. crc_error

    crc_error The Rule of 72

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    yeh, a quality bank like NAB is just going to fold hey!

    They still are retaining their customers, and I can hardly see a property crisis here in australia..

    anyway buying once its over priced is to late..
     
    crc_error, 30th Jul, 2008
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  8. Tropo

    Tropo Well-Known Member

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    Again...buy, buy, buy and...goodbye :rolleyes::rolleyes:
     
    Tropo, 30th Jul, 2008
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  9. BillV

    BillV Well-Known Member

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    NAB hit by a Triple-A whammy

    THERE'S something punishingly ironic in a bank facing a credit rating downgrade for losing money on investments the same rating agency classed as Triple-A.

    National Australia Bank has been placed on 'credit watch negative' after its announcement on Friday of a $1 billion potential loss on CDOs - so-called Collaterised Debt Obligations.

    Whose underlying assets are US residential mortgages, and which were rated Triple-A by the rating agencies at inception!

    It is an irony, though, that will be little comfort to investors who have seen around $25 billion sliced off the value of shares in the Big Four in just two days of numbing trading, after the NAB-ANZ double whammy.

    Particularly 'thrilled' will be those who piled into bank shares in last Thursday's market surge.

    In the next two trading days they have seen between 11 per cent and 19 per cent sliced off the value of their investments.

    MORE HERE

    NAB hit by a Triple-A whammy | Herald Sun
     
    BillV, 30th Jul, 2008
    #9
  10. Tropo

    Tropo Well-Known Member

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    ANZ + NAB (weekly).
    Enjoy....:p
     

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    Tropo, 31st Jul, 2008
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  11. crc_error

    crc_error The Rule of 72

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    joke really, why invest into the stock market at all? if a 'blue chip' can 1/2 in value in the space of a couple months.

    I recon just pay off your mortguage! forget investing..
     
    crc_error, 1st Aug, 2008
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  12. DaveA__

    DaveA__ Well-Known Member

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    It was only 12 months ago that you said you hated property and loved shares....

    Look at the big picture (and by big picture i mean the past 7 years). Returns are higher than the interest rate costs, so hence you would be worse off if paying off your mortgage was your strategy. Im sure Donald Trump would be just as rich today if he implented paying off his mortgage....
     
    DaveA__, 2nd Aug, 2008
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  13. crc_error

    crc_error The Rule of 72

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    I actually have both, property and shares now, but its dissapointing to see shares 1/2 in value. If your geared at 50%, then you can be wiped out completely!
     
    crc_error, 2nd Aug, 2008
    #13