ANZ shares (1 Viewer)

[Macqncheese]

Just brought a bunch of ANZ shares. Anyone got things to comment? specially finance students?

Lost 0.15cents on them because of the market today (haha lost 15cents in the first day)

But is this a good long term hold?

 

[seremify007]

Based on what you PM'd me, with the volume you're buying, you're gonna need to sit on it a bit longer just to offset your brokerage costs both ways.

 

[Macqncheese]

Based on what you PM'd me, with the volume you're buying, you're gonna need to sit on it a bit longer just to offset your brokerage costs both ways.

Never had any intention to flip. I intended for a medium length investment

 

[seremify007]

Is this your first share purchase?

 

[Macqncheese]

Is this your first share purchase?

Of shares in my name. Yes.

 

[seremify007]

I see. I still have some shares from when I first started trading in small parcels (<$10k trades) and damn it's annoying now having to do tax returns and account for changes in cost base relating to share splits, buybacks, demergers, and then when I thought I could ignore it all, there was a forced sale of an unmarketable parcel! That being said, if the share market tends to go up over time, and you've bought shares with a beta > 1, then you should be sweet (in theory).

 

[Macqncheese]

I see. I still have some shares from when I first started trading in small parcels (<$10k trades) and damn it's annoying now having to do tax returns and account for changes in cost base relating to share splits, buybacks, demergers, and then when I thought I could ignore it all, there was a forced sale of an unmarketable parcel! That being said, if the share market tends to go up over time, and you've bought shares with a beta > 1, then you should be sweet (in theory).

That's a reason I didn't want to go with ANZ*E*trade share pack. Even though its diverse, it would of let me with lots of odd shares

Haha, if only theory played out all the time.

Speaking historically though. Bank shares are fairly stable (which the expecting of the GFC, but even so, they recovered well) and usually go up over time.

 

[TheGreatest99.95]

how much did you buy in terms of $, if you dont mind me asking?
good day today for anz, up 1.8%

 

[TheGreatest99.95]

http://www.businessinsider.com/ecris-achuthan-reiterates-recession-call-2013-3

 

[Omnipotence]

how much did you buy in terms of $, if you dont mind me asking?
good day today for anz, up 1.8%

I doubt that much. If so OP would have diversified.

 

[Macqncheese]

I doubt that much. If so OP would have diversified.

I didn't gain alot. ~$150 in capital gains (which is fairly small for a 1.8% increase).

However, this increase will likely offset my costs of any future downswings,

 

[Macqncheese]

Feel free everyone to share your opinion about bank shares etc. Obviously I am not going to go exactly what you say, but it is interesting to see what people think.

 

[Macqncheese]

how much did you buy in terms of $, if you dont mind me asking?
good day today for anz, up 1.8%

Also, they peaked at ~1.8%. They settled at the end of the day at +1.25%

 

[Macqncheese]

Lol, the market fall today brought my shares back to their original position (roughly)

 

[seremify007]

Lol, the market fall today brought my shares back to their original position (roughly)

Hence the importance of volume to enable you to trade where the transaction costs are close to nil relative to size of position or P&L. When I was doing physical, I got mine down to the 5-20 points range.

 

[Macqncheese]

Hence the importance of volume to enable you to trade where the transaction costs are close to nil relative to size of position or P&L. When I was doing physical, I got mine down to the 5-20 points range.

True. But then again, you need significant funds to do so.