All is well over here buddy, and I hope it is likewise on your...

All is well over here buddy, and I hope it is likewise on your end.

I was wondering if you, like myself, would be drawn out of the shadows by the recent drop in bank SPs. I have certainly stood to attention because things are getting interesting.

The time to reload some bank shares could well be approaching. I can do with more NAB, WBC and/or CBA.

I was expecting some sort of CR from WBC, but more in the form of a discounted DRP. Not 2.5+ billion dollars worth either. Results were not great, but seemed to be turning around a little in the last half. I guess the housing market turns slowly, and so will their loan growth. Mind you, if the big four are having trouble with growth, NIM etc, I can only imagine how tough it must be for the smaller lenders who, apparently according to some, are going to take over the market as the end of the big four is near. Hmmmm. What do you reckon? Because I don’t see it.

Back to the CR. It’s an SPP, rather than my favourite, a tradeable entitlement. Apparently the latter is now dead, because it costs the issuing company more money to run, so everyone is going down the SPP path. Limit on SPP is now 30k pa, so at least that is something good, sometimes of course depending on the company. I have two WBC holdings so that means I could apply for up to $60k. Hmmm. Decisions, decisions. NAB reports on the 7th of November (day after tomorrow) so I won’t decide too much until then. But at 25.32 for WBC ex dividend, that doesn’t sound bad at all.

Time to watch. Keep an eye out on WBCNB too. These are the newly issued shares by WBC to institutional investors and hence are ex dividend. They commence trading this Friday, and become ordinary WBC once these go ex dividend.

CODB!!

Oh, and the rest of mine are meh. Nothing new to report.