RE: MORE SICKENING BANKSTER BEHAVIOURYawnio that had to amongst the MOST boring & self serving posts I've read in a while. You have elevated yourself to status of super bank pumper. I like how you changed one word in the subject line.
Betting, and yes I said BETTING, on the banks serves no purpose with less than honest bookkeeping practices, extremely greedy senior management types that continually erode shareholder value and MASSIVE liabilities and not to mention ongoing dilution. I'm not disagreeing with you that buying many venture plays are in fact a crapshoot but an extreme amount of DD is required for success and I know that is something that the lazy "dividend focused" investors know nothing about. I have an exit strategy in place for EVERY play that I own (which are only 5 plays at the moment). My exit strategy includes stop losses or trailing stop losses. Out of extreme morbid curiosity do you have an exit strategy for your beloved Canadian banks? Probably not as you expect the price of the Canadian banks to continue to rise forever and the dividend to pais out until the end of time. This is the same thinking that got many countries, investor & most importantly people, in trouble. The flawed idea that things will go up forever is exactly that, FLAWED. Falling in love with a play is not a good idea. Owning stocks is not forever.
BTW you mentioned my name in a earlier post that had absolutely nothing to do with me so I call liar on you pal. For the record Yawnio, if you read my posts, which I assume to do, I mentioned that I bought EFG earlier in the week for $.31 cents. Well today I sold it all for $.41 cents. It went as high as $.425 cent but oh well I've never claimed to be able to hit the tops or bottoms with any precision. Well that was a tidy $6,000 profit on 60K shares in only a few days. My only regret is that I didn't follow my original instinct and buy 100K shares. I'm not in any way shape or form recommending EFG but I did see another play that presented a very interesting opportunity. I spent hours, yes hours reading up on EFG when looking for promising lithium plays. The stock had been pounded into submission over the past few weeks and grossly oversold, so IMHO it was time to buy. The only time to buy a stock is when it's on sale and ALL OF THE CANADIAN BANK STOCKS ARE NOT ON SALE. When you take all of the goodwill out of their numbers, the Canadian banks are grossly overvalued.
I'm signing off for the day so have a great weekend.