I have made more in other shares I got 32% last year because I scaled down the bank shares form 40% to 8% of my SMSF ,its no good having a fund if its not growing,just pointing out the dividend looks good but over the years ANZ,WBCand NAB have been poor performers and have not looked after their retail investors.I picked up some of the scaled back $14 shares and will sell them shortly.
Looking at them 20 years ago at similar prices as they are today makes them a poor investment choice and now they have scaled back their businesses and are under assault from new entries in the field ,the days of easy money from credit cards and monopolies are over. The only reason I can see why NAB is buying back shares $2.5 billion shares at $26 after issuing $5 billion of them last year at $14 is to try to boost EPS but it looks like management have run out of ideas on how to boost earnings.
NAB Price at posting:
$27.22 Sentiment: Hold Disclosure: Held
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