Nab

[dus]

Just bought some NAB at $27.58.

They are yeilding close to 6%.

If your in for the long term, easy money.

 

[TheBloods]

I reckon they'll go as low as $25-26.

 

[Frodo]

I have a good percentage of NAB in my portfolio, picked up a few months ago in the $27's and I.m annoyed at their performance and lack of detail in the downgrade. I think they could hit the $25's short term and are likeley to post some unexpected write downs in final figures.

But long term they are good and yield is good. If you don't need the cash for a few years they are probably a steal.

 

[Docker_Brat]

They need to lay of a few thousand employees, eh Frodo?

 

[Frodo]

Originally posted by Docker_Brat
They need to lay of a few thousand employees, eh Frodo?

I'm not sure how far they have automated, but the banking industry has reduced staffing in line with the needs of a modern and efficient industry.

I am more concerned about the culture at NAB. It starts at the top and festers all the way down, Ansett was a good example. I find that NAB has the worst customer care attitude of the banks. The changes at the top were needed but we're not seeing much change at grass roots level, and customers wont come back in droves without a change in the culture.

Having said that, they will still generate megabucks and as long as Australia grows the banks will grow too, with some bettering others at differing times.

ps Lay offs!!! Loke at western power, 2 x 61yo's with 34 years service given 3 weeks a year tax free, plus holiday and long service leave, nice if you can get it. Anmd taxpayers money to boot.

 

[Former]

I met a German in London who had worked with the NAB on various high-level procedures within the bank - security, compliance and so on. Lot sof stuff you'd think an ethical institution would take very seriously.

"You didn't hear it from me, but I wouldn't trust them with my watch let alone my life savings," is a sentence that stuck in my mind.