I2, I chose ONE because it tanked, and now I can get a 4% dividend yield. I wanted to add to my small long-term position.
Here's some info on ONE which I found in reviewing my file:
1. 4th-largest bank holding company. ('98 Annual Report)
2. "The two predecessor corporations making up Bank One each had roughly 30 consecutive years of dividend growth..." (Barron's 1/99)
3. "It dominates the Midwest, with retail operations in 14 states." (Fortune, 12/98)
4. "Largest Visa(R)/MasterCard(R) lender in the country". ('98 Annual Report)
5. "The Investment Management Group has more than $120 billion in assets under management, making it one of the top 30 money managers and top 25 managers of mutual funds in the U.S." (ibid)
6. "The country's number-three commercial bank in the United States."
(ibid-- ah... ibid... oh for my old school days and those term papers ---gg)
There's more good stuff (as well as some bad stuff too, of course.)
I had been wanting to add to my position. My thinking, with ONE dropping to 42,was, if not now, when? For anyone thinking of starting a banking position here, it seems like you will get paid (4%)to wait until ONE stock comes back-- which imo - given the strengths, size, and resources that ONE possesses - there will be a good shot for a capital gain somewhere/sometime down the road.
Paul |
