Ireland Bank, American Dep. Shares (IREBY)

[celtic tiger]

Hi everyone, anybody who buys this bank and holds for 5 years will do very well indeed. This bank is by far the strongest bank in ireland and it can afford to pick off the cream from the other irish banks and with less competition from exiting foreign banks, profits and the shareprice will grow very strongly. The hold 80 per cent and trade 20 per cent model is a good idea.I have lived through the property crash in ireland and our problem is a bank liquidity problem with no lending.There has been a tug of war between thedebt moral hazard lobby and those who see debt write off is the only way forward after reduced incomes,hugely increased taxes and grossly distorted asset values . The banks are finally writing off debt here and the self employed middle classes will start to spend and invest in property again . I was a bond holder in my pension and the government took 60 per cent and gave me cash and shares valued at the time at 10 cents each.My investment is back up to near parity and I believe the shareprice increase will quicken as there are strong signs europe is emerging from recession. Buy on dips as there will be volatility in europe. Business is starting to improve and normality will resume once the banks deal with write offs in the coming months.