Tackling Aussie Banks
Hi James,
Which suits our “leg in the air” stance, what on earth does that mean???
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Answer
Hi There,
Sorry for the turn of phrase, basically means we have sold part of our positions in Commonwealth Bank (CBA) and National Australia Bank (NAB) with the ambition of buying Bank of Queensland (BOQ) at lower levels – the goal being to add some value (alpha) around the edge of our Flagship Growth Portfolio – unfortunately no luck this week with BOQ rallying 5%. We have a standing buy in at $8.50 for now
