WBC 0.25% $24.27 westpac banking corporation

best of big four.... by a considerable margin

  1. DSD
    15,757 Posts.
    Some meanderings.
    USA is in HUGE trouble. I have been a rock solid bear since April 2005. Shorting market indicies (Dow & Dax) some 24 months too early cost me dearly.... but recouped some since early december.... phew!!!
    I remain strong bear re USA. Reckon Dow will drop another 10-20% and reach 11000 before end of august. Expect US$ to lose another 10% against AU$ by september.
    The entire global economy will be affected.... but believe Oz economy is the pick of them all..... mainly due to massive intake of rich skilled immigrants.
    It is impossible to pick the market bottom and ASX will fall tomorrow. So what to do?
    I seek stocks with strong FFdivs and low debt. Must also have good steady income.... even in tough times. Banks make money ... PROVIDED their loans are solid. Westpac appears the safest of the big 4.... having least exposure to overseas mortgage collapse. I will buy at around $22.oo-$22.50 range.... and expect last years dividend to (at a minimum)remain unchanged. Hence these prices will provide a 6%FF div (=8%) income stream. This will underpin the price.
    However, WBC continue fall into $20.oo-$21.oo range..... and I will use this to slowy increase shares held.
    However... i expect USA recession to last 3+ years so do not expect a rapid bounce back to $30.oo. Buy on the dips and not a cent above $22.40.
    PS watch WBC bid for St George when latter hits about $22.oo.Could be swallowed up by August.
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Mkt cap ! $86.82B
Open High Low Value Volume
$24.32 $24.40 $24.20 $156.6M 6.450M

Buyers (Bids)

No. Vol. Price($)
2 2000 $24.26

Sellers (Offers)

Price($) Vol. No.
$24.27 65703 3
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Last trade - 16.10pm 06/12/2019 (20 minute delay) ?
-0.060 ( 0.29 %)
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$24.33 $24.40 $24.21 905918
Last updated 15.59pm 06/12/2019 (live) ?
WBC (ASX) Chart
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