i bought @ 27.3 on friday , i would not have done had it seen whats happening today , im confident for the long term but i would not be surprised to see a drop to 20 cents between now and summer , i have cash in reserve to buy in that eventuality
I have been in BOI for a long time. Suffered paper loss of 90% + at height of recession. Bought all the way down to 8c but mainly at 10c. Break-even price now 28c.. Topped up this morning at 27.4c, as am confident the worst is over and slowly but surely good times ahead. Any one going to AGM? Howth
Who would want to but them. The institutions I know who bought them from Ross are pretty livid as what they see as manipulation prior to sale and have no intention of buying any more given the substantial loss they are sitting on and are very nervous about the lock up period. If the government or Ross tried to sell now who is to say another 25% off share price - who seriously would buy them at the moment..........??
I wouldn't read anything rational or tendential into a 3% drop in AIB. It's SP has been up and down like Berlusconi at a Bunga Bunga party with oscillations of up to 10+% in a day. With 0.8% of the float open for buying/selling, it's a ficticous market and a lot of small folks who reckon they are smart are going to get burned.
BOI is profitable since some point in H2 2013, now we need to see the trend in increase in profitability. AIB is supposed to make the breakthrough this year.
In any case, BOI was worth a property-bubbled (drugged) 18bn at its 2008 peak and is worth 9bn at today's valuation, in recovery mode and with a fair portion of hope already priced in. I don't think a 12-15bn valuation is too far a stretch by 2017/19 IF they continue to rebuild profitable market share in ROI and UK and sort out a few NIM-impacting issues (retiring pref shares with 10% coupon, sorting out legacy debt, especially those in negative equity, further reducing cost of funding, phasing out tracker mortgages, further reducing cost of service channels etc.).
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