$57 - I'm back in the black. :)
What was the lowest price point these shares hit recently?? Was it $21 or something?? Or was it $30 something?? Nice work Mark!
Touched $15 on the 3rd of March, closed @ 57.63 yesterday. If you had bought on the low, you would have made close to 4 times the money, one of the best ( perhaps the best) recovery of all leading stocks since March. The peak for MQG was $83.59 in November '07. M
It doesn't make up for the debacle of the last 12mths or so; but I am getting close. No idea. I learnt an expensive lesson about not locking in profits and portfolio weighting with ERG. Not looking to repeat the same mistake.
Funny thing shares.. next door neighbour is/was with Babcock & Brown.. whatever "low" you would have bought it could go even lower.. talk about dead cat bounce.
Well done to lock in some profits, market usually takes a breather after a strong run - the only question is when. M
I was lucky with Babcock and Brown, the broker told me it was a dud before the poo hit the fan. I got out in the black, very lucky indeed.
B&B used the MQG business model, so by implication there was a lot of risk associated with MQG, one reason why their price fell so heavily and has also recovered so much. MQG still has a long way to go to get back to it's peak though. By comparison, CBA fell to about $25, and is now back at $50, and its peak was around $62, so even in the worst case, you are only about 20% below the peak at the moment, and even less so if you consider dividends. You never know what the 'peak" or "bottom" was except in hindsight, M
It doesn't really matter if you are in it for the long haul I guess. I went very overweight in local banks with the GFC silliness. I had to do some portfolio re weighting, especially now that super contribution changes mean you can't pump lots of money in any more. I still like banks for the long haul.
Let 'em try, mate! Stick with me, buddy. I'll make sure that I, errr, i mean you, will get rich real quick using my tried and proven methods!