Why are people persisting in regarding banks as "blue chip" ? For someone to continue to regard banks as "safe" and "dividend plays" ( what dividend I hear you say ) and has a 3 year time frame .... LOL. Meanwhile certain gold companies have gone up 50-70% in the last 2 weeks .... companies like SAR, SLR, NST and soon to be RED are the new blue chip ? The trend is your friend and gold is in a strong uptrend that looks likely to continue as long as QE to infinity (which banks totally rely on) continues. While governments wont allow all banks to fail, they almost let ANZ and WBC go in the early 1990's, the era of lazy 'no brainer' dividends is ended. How long 'franking credits' for those who don't pay dividends continues must be be a worry as well. Wealth taxes are coming - future governments will be desperate for revenue.
WBC Price at posting:
$14.91 Sentiment: None Disclosure: Not Held
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