Exactly my point Maroon, If one thinks one will create wealth by investing in second rate companies with very little history poor earnings , next to or no dividends , companies being run by spruikers and crooks of course you will eventually get burned.
And at times I have been burned by seemingly strong companies , but not often, as I said there is no easy way to wealth.
You mention The Hand Bank and so on , these were not ever stocks a serious long term investor would purchase.
Our 4 big banks have all had their days in the sun and in the dark , but at the end of the day if these banks ever go down the gurgler we should all be ready to go with them.
In 2008 the banks and miners in Australia saved us , during the pandemic the banks propped many of us up including me. With out them it would have been a blood bath. You could not ever draw comparisons between the N. Hand bank and our big banks. They may not be angels , but they do pay a reasonable yield to investors and if indeed the Pandemic and consequences of world economies being closed have come to an end , keep an eye on WBC..
But DYOR.
Im just a plodder.
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