In a fit of spring madness today, I bought some shares. In Lloyds.
I originally planned to do this in summer 2008, when they cost around £2.50. Today they cost me just under 50p. Unlike then, there will be no dividend for, I guess, 18 months. However, the bank dumped most of the bad stuff from its books, and I reckon the equity market is 'anti-bank', depressing equity prices excessively.
I don't think market antagonism will change for six months or so, but suspect as the banking sector has been the first to restructure it will be the first to recover.
My guess is the investment will begin to pay off in 18-24 months time. Hoping for 10% per annum return, so selling for around 70-75 pence in late 2010.
15 hours ago