Has been tracking NED the last 3 months, and the latter came up with better than expected results yesterday, so I think FSR may have legs for another 5-6% upwards. SBK has been the laggard in this space, however they do have issues. That IMHO. I was fortunate enough to take quite a big position on NED under 240 and offloaded 50% yesterday, unfortunately some of it went to filling up KIO's hole.
hands down the strongest out of all the banking stocks. So I have also taken a position this morning. Although the move on FSR is a heavy bet on the resilience of the South African economy, since they don't have much exposure elsewhere. Fundamentally, I think Barclays is the best bet, but technically FSR is a no brainer.
Yip nice, but very seldom is one fortunate enough to sell at the top and climb back in at the bottom a week later. At a PE of under 11 and underpinned by a good dividend (2% to be paid within a few weeks) I see at least a 10% growth in NED's share price before the next set of results. Certainly not going to shoot the lights out, but almost certain to make a good profit, so taken a big bite as I need a new red PH or a very good 2nd hand one in the new year:)