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Newbie, just sold CBA shares - have I made a mistake?!

Discussion in 'Beginner's Lounge' started by Spunky, Dec 7, 2014.

  1. Spunky

    Spunky

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    Hi all,

    I am an ex CBA employee and was allocated a total of 96 shares in the 3 yrs that I worked with them, which I held onto for the past 10 yrs, totally oblivious to what they were, how much they were worth, etc... Every 6 months, I was receiving an extra amount into my account (dividends) and I just kept going about my business. Well, recently (since having baby#3), I haven't been able to work as much as I used to and I needed some cash to stay on top of things and I remembered that I had these shares and on an impulse, I registered with commsec and sold them. All of them!!! Since then, I've been reading up on maybe investing some of that money into another company, most probably a safe one (if there is such a thing) but with all that reading, I can't help but think I may have made a mistake and I should buy them back.

    At the end of the day, I am looking at long term investment for the children. Is it worth buying them back and holding onto them for an even longer period or is it time to look at something else?
     
  2. burglar

    burglar

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    When my wife had baby #3, I was continuously broke for 2 decades.
    I earned enough to pay the mortgage, the food bill, clothing, utilities and running a car.
    That car, I kept for 22 years.

    There was nothing left over.
     
  3. burglar

    burglar

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    I forgot my manners!


    Hi Spunky,
    Welcome to ASF!

    Just my opinion.
    Now is not a good time to buy CBA!

    To find the thread, type CBA into the search facility (top right of the page)


    cba.chart.gif
     
  4. Spunky

    Spunky

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    Hi Burglar,

    Thank you for your welcome and thank you so much for replying to my post:). I had a little giggle when I read your reply... that's kind of how we feel at the moment... Apart from the mortgage, we don't have any other debts ($1000 credit card that gets used to accumulate points and the balance is paid out by end of month) but I felt like I needed some breathing space, which is why I sold the shares and you're right... they do seem to be quite expensive, which is why I am leaning towards perhaps one of the other financial institutions... hoping they will be able to give me a good return in another 10 yrs time:D. There is so much in this forum that I will need to read up on!
     
  5. burglar

    burglar

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    I am not allowed to give financial advice, but I am allowed to post my opinion.

    If CBA is expensive then other Fin Insto's should likewise be expensive (being they are in a similar cycle)!

    Best thread on cycles and such, is Sir O's "Newbie Thread - All your Questions answered"

    Here:
     
  6. Spunky

    Spunky

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    I did come across "cycles" in my reading (not here, just came across is when I was browsing the internet) and may need to read up a little more about it. Thanks for the link:)
     
  7. Modest

    Modest $PEPE

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    I don't trade stocks but I do make an effort to stay up to date with news. The Murray report was just released with calls for the big banks to hold billions more capital. I think the big banks will take a beating tomorrow morning when the market opens.

    I think you made the right decision unloading CBA when you did.
     
  8. luutzu

    luutzu

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    Maybe wait until after the current housing bubble... interest rate will have gone up by then (more costs to bank doing business; less profit since the lending they've been making are at lower rates), maybe a fair percentage of mortgage foreclosures... then there's the recent Murray reports requiring new capital etc.

    But I'm just guessing...
     
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