Saul,
I asked this question a few days ago, but I think it got lost in another thread: Your recent reviews of your 15 stocks, that you have been kind enough to post, do not include INBK. My recollection, from your end of March summary, is that you reduced your position in INBK, but did not sell all of your shares. Have you since sold all your shares? I know you are not required to tell this board anything, let alone when you buy and/or sell shares; I ask only because INBK was clearly missing from your recent reviews.
Many thanks,
Speedy
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Speedy, I usually don’t post my changes in my portfolio during the month, but you can obviously draw your own conclusions. But, you seem very anxious about whether or not I sold the rest of my position in INBK. I’m not sure why you’ve seem so very concerned about it? INBK will go on and do whatever it was going to do with me or without me, and I may have different needs and criteria in a stock than you do. For example in terms of liquidity, or with regards to having other banking stocks in my portfolio. You really shouldn’t be trying to just copy my trades, but decide for yourself what companies you want to be invested in. It really will turn out better for you. I’m an old guy and won’t be around forever. If you don’t learn how to decide for yourself, what will you do when I’m not around, or if I just retire from posting for a while?
Best
Saul
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Thanks Saul,
I am not at all anxious about whether you sold the rest of your INBK shares. Please don’t draw any conclusions or make any assumptions about the reason for my inquiry.
I thought I had been reasonably clear in my post and the prior post about INBK that the reason I was asking was simply because, if you were doing a mini review of all of your stocks, you appeared to have inadvertently left out INBK. That is all; nothing more, nothing less.
FWIW, I do make my own decisions about my investments. I always have, and I have been investing for more than 30 years.
That said, I appreciate all that you do on this board.
–Speedy
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I usually don’t post my changes in my portfolio during the month, but you can obviously draw your own conclusions
Not that the point of this board is to “figure out what Saul’s doing”, but per the above quote from one of Saul’s recent posts and the fact that he now has SBNY as his 4th largest holding, and INBK was left off his review list…I would think he sold out his INBK, possibly to build up SBNY, thinking it the better bank holding to own.
Just a guess…though all will be known in another week. 
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I am not at all anxious about whether you sold the rest of your INBK shares. Please don’t draw any conclusions or make any assumptions about the reason for my inquiry.
Sorry, Speedy, I guess my tone of voice was inappropriate. As you have no doubt figured out, I did sell out of my INBK gradually. Several reasons:
Lack of liquidity: 20,000 shares a day is very small and comes to about 3,000 shares traded an hour. That meant wide spreads, and any significant sale would move the market, so I worried that if there was any significant bad news it would be hard for me to get out.
Earnings growth slowed considerably, as did growth of book value.
I found another bank that I liked a lot better, could understand better, had better metrics, and I felt safer in. (SBNY)
Hope this helps,
Saul
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