View the article online at http://citywire.co.uk/money/article/a609894
Diary of a Dumb Investor: I’m making a killing on Standard Chartered
Sorry, you've been redirected, this is 'Diary of an Intrepid Investor', one who isn't afraid to make a bold move when everyone else runs scared.
Hello? Is there anybody else here? Anybody at all?
Nope, everybody else has fled, scattered for safety, and only I, 'Dumb Investor', dared to step in: Standard Chartered (STAN.L) shares dropped 25% and I swooped on London’s best – and as of this morning – most over-sold bank.
Not long after 11am this morning I bought in at £11.36 and now the shares are at £11.85, after the bank was struck by US allegations that it conducted secret transactions with Iran.
I'm in for £1,000. Admittedly, that’s a big gamble; it could lose its US banking licence etc – but so far have we seen any bank
And admittedly my little gain so far is vulnerable, but no critic out there can deny that I’ve matured as an investor.
Everyone knows that Standard Chartered is the only London-listed bank with a decent balance sheet, and it’s not reliant on the depressed British punter to provide its profits. Nope, two-thirds of the readies come from Asia.
This is the finest bronco in town and I’m riding her to rodeo gold.
I’ll provide more details in my regular Monday column.
News sponsored by:
After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news
More about this:
Look up the shares
More from us
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add email@example.com to your safe senders list so we don't get junked.
by Gavin Lumsden on Jul 01, 2016 at 17:30