i talked about bank stock on 15 September 2009 (http://www.cathoon.blogspot.com/2009/09/bank-stock.html).I bought Ambank call warrants (ammb-cd) on 8 September 2009 at RM0.305 and I sold them all at RM0.33 on 2 October. This provided me with 8% profit in 3 week holding period. I have to admit, this trade could be better in term of profit but i sold it too early. Ambank jumped after i sold them. I think Ambank and Public Bank call warrants are the safest and most stable call warrants. I will park my fund there (buy Ambank and Public Bank call warrant) when I cant find any good potential trade.
The reason i sold them all was Ammb did not drop much compared to other stocks, so i would like to switch my portfolio to those that had dropped much. Besides, I thought October would not be a good month for stock market. I was wrong, so far this October is a good month for stock market.
Among the banks in Malaysia, I like Ambank, Public bank, Hong Leong Bank and RHB bank. I think Maybank and CIMB are the most expensive bank in Malaysia. Maybank and CIMB are GLC, I guess this will make investors think it is easier for them to get more government-related business. I think it is true too. In Malaysia, politic and business mix like rojak.
I wonder what will happen to CIMB if our prime minister is no longer around. For your information, CIMB CEO is our prime minister's younger brother.
Ok, good luck.
GOon
previous related post
http://www.cathoon.blogspot.com/2009/09/bank-stock.html
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