HAFC. I am continuing to build a small position with more small buys today.
Part of my buying is psychological or emotional. Missed EWBC so many, many times over the years. Watching, seeing, understanding, but... not ever buying. Grrrrrr. And I missed out on a second Chinese-American bank as well. (arghhh)
finance.yahoo.com
I decided to make a small, exploratory bet on PUBB when the price looked attractive. I exited it way too soon though.
There aren't that many ethnic-based/ethnic-catering banks left (that I know of) that are available that trade at a somewhat reasonable price. I figure HAFC may be my last chance in the sector. With HAFC, I intend to be in for the long haul.
Rationally, the stock may not be bargain-priced. Perhaps it's best to wait for the inevitable rise in interest rates, which, in past, has often dropped the price of bank stocks to provide buying opportunities. As I say though, I come to this particular stock with some baggage, so my opinions, purchases, enthusiasm, determination, whatever - are clouded by that -g-.
Paul Senior
aside: I realize Korean-Americans, Chinese-Americans, Vietnamese-Americans, etc. can each point to their culture as being distinct from any other culture. As regards banking, I just believe ethnic groups share a similar loyalty and willingness to do business with people of similar business culture and language. Just as Chinese-American banks have prospered and continue to do well, I am betting so too will the Korean-American banks. Plus, not to ghetto-ise anybody, there's no reason why ethnic local banks can't expand beyond their otherwise ethnic base. Mainstream American banks often aren't quick enough or decentralized enough to respond to local conditions, and where that might be true, it provides opportunities for small local banks regardless of ethnic background, I would hope. |
