Wow, amazing. This is why I never give investment advice: I never know what's going on most of the time. I like to think of myself as the Forest Gump of investing :)
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Wow, amazing. This is why I never give investment advice: I never know what's going on most of the time. I like to think of myself as the Forest Gump of investing :)
Haha, nonsense! ... That's me ;)
I think that it's nice when anyone on this site shares their opinions or ideas, hope you keep it up. Even if you're wrong, it's good to get an idea about sentiment from others or something to think about.
I'm not too upset about my ANZ shares, I only have a few and think they'll generally give a better return than the bank. Also they're one of the few companies you can invest in, which if they fail, the government will (try to) bail out. Eventually they'll come good and I'll be able to sell at profit if I want, while collecting dividends along the journey.
From the AFR
Elliott is the first major bank chief executive to acknowledge that traditional dividend payout ratios are no longer sustainable in the current environment. ANZ has cut its interim dividend by 7 per cent and flagged a permanent shift to a lower payout ratio.
"We believe ANZ is making the right decisions, addressing many of the market's concerns. However, as has been seen numerous times in bank restructurings since the crisis these processes are never easy and invariably lead to additional earnings volatility," UBS analyst Jonathan Mott says.
Watermark Investment Funds analyst Omkar Joshi agrees ANZ is taking the right actions to address the market's concerns. Joshi specifically mentions the bank's "very strong cost control", reducing staff by 5 per cent over the year."Excluding one-off charges, ANZ also experienced positive jaws with revenue growing ahead of expenses," he says.
And the AFR's Mike Smith acknowledges that no-one can accuse Elliott of having his head in the sands in terms of the growing regulatory,competitive and political pressure facing the industry.
Thanks Lewy. DRPs certainly comfort me in dark days.
Gee, over the last few minutes it's been surging.
What the AFR didn't mention - at least in the above extract - is that a new CEO such as Shane Elliott will take the opportunity to clear the decks in the first profit announcement after his appointment. Good for him, but it's much easier to take the hard decisions at that stage!
Well, hot off the press guys RBA cut their rate by 25 bps to 1.75%, I bet RBNZ will surely cut at their next meet...
http://www.stuff.co.nz/business/worl...ome-loan-fraud
How many suspect loan could there be in Auckland ?