NAB update

The Brexit referendum has hit the price of NAB.

As foreshadowed in yesterday's Brexit Buy list, we're uprading National Australia Bank to Buy. Bear in mind, though, our recommendation that you shouldn’t have more than 20% of your portfolio in bank stocks, or closer to 10% for conservative investors. For those below those levels, we’d also recommend a staggered approach to building a position, with an initial investment well below our 10% maximum recommended portfolio limit for the stock – probably more like 3%. BUY.

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