We’re looking for a new home for a handy pile of cash that’s in the Biznews Global share portfolio. I’ve had my eye on one stock for some time. But after reading my colleague Jackie Cameron’s insights into Lloyds Bank, it will be two changes to the portfolio when we do our update next week. Please diarise 12:30pm SA time on Thursday the 25th to join us.
In March when I interviewed the UK’s deep value investing king Nick Kirrage of Schroders, he opined that UK banks were as cheap as commodities had been before their 2015 surge. At the time the Lloyds Bank share price was £68. It’s now £71, so no boat missed yet. Kirrage's insights are relevant in the light of what Jackie shares with us.
Jackie Cameron writes: “UK asset management rock star Neil Woodford is betting big on the Lloyds Banking Group. His CF Woodward Equity Income Fund recently added Lloyds to the portfolio, with a note to investors that the London-listed bank is well-managed.
Large banks have a reputation for being...