Last week I again made the case for the banks and dutifully the market re-loved our financial sector, with the CBA up 9.8% since its recent low of $67.22. This was a classic case of when it can be smart to invest in a quality company that has been caught up in a real beating by the market.
I’ve often talked about this strategy in this Report and I’ve had to really assess its reliability following some market mistreatment of my own SWTZ fund.
A subscriber/investor in the fund, Helen, sent me an email complaining about the fund’s performance, which is her right to do. In late February 2017, we listed at $2.50, went as high as $2.63 but not long ago plumbed the depths of $2.42!