Share
6,161 Posts.
lightbulb Created with Sketch. 428
clock Created with Sketch. 02/11/21
17:45
Share
Originally posted by dmaivn:
↑
After a little more thinking about the situation, I know it's so terrible for many to have huge "unrealised" losses as WBC tanked over 8% over the last 2 days. It is a kick in the gut. Westpac management is partly to blame. If they announce that they would buy on the market, it might go down but not terrible like this. I find it a huge opportunity for myself though. So, I'd like to share what I think people can do if they still have some cash on the side to deal with this disaster. The idea is that you don't sell when things like this happen to bank shares. Classic play with bank shares is to hold until you get a profit and you collect dividends in the meantime.
Expand
So buy shares to sell them to Westpac in buy back ? What happens when your scaled back and price goes lower...your forced to sell rest at loss, probably just covered by gain in franking credits etc...
(20min delay)