I sold SUN at a capital loss with the thought of changing over to one of the other banks and taking the opportunity to purchase at a dip price to offset the loss.
The thought is to secure something to give a capital gain along with a franked dividend in the banks.
Your advice please. WHICH BANK?
A: I am on the Westpac “train” because it is too cheap relative to the other 3 majors. It is very much out of favour with most investors, partly because the AML issue and the size of the fine is unresolved. It is also being managed by an acting CEO.
I have been on the Westpac train for some weeks now and have looked horribly wrong – but interestingly, it has just started to outperform the other 3 over the last few days.
You may need to ware some pain.
