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Has anyone else been buying NAB? I've been buying it all year. I received my CBY shares, sold them a couple of days ago and put the money into NAB. I've sold off other holdings and bought NAB. I've grabbed the cash lying around in my trading account and bought NAB. I picked some up this morning at $24.It's way oversold IMHO. Factor in even a 10% reduction in the dividend going forward and it is still a compelling yield (over 10% grossed up). Yes the economic cycle suggests that the bad loan risk is rising but I think the drop in share price is way over done. As we have already seen, the banks will move to protect their margins if they need to. Will there need to be more capital raisings diluting shareholder value? Maybe, but maybe not.
Has anyone else been buying NAB? I've been buying it all year. I received my CBY shares, sold them a couple of days ago and put the money into NAB. I've sold off other holdings and bought NAB. I've grabbed the cash lying around in my trading account and bought NAB. I picked some up this morning at $24.
It's way oversold IMHO. Factor in even a 10% reduction in the dividend going forward and it is still a compelling yield (over 10% grossed up). Yes the economic cycle suggests that the bad loan risk is rising but I think the drop in share price is way over done. As we have already seen, the banks will move to protect their margins if they need to. Will there need to be more capital raisings diluting shareholder value? Maybe, but maybe not.
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