Hi John
Combined basis of margins, growth in profits, funding composition, defaults being less than provisioned during gfc and comparing this to the prior periods means I think balance sheet is stronger now than it has been. Obviously not immune to nightmarish scenarios being played out in Europe but think Aussie banks will be the last ones standing.
Re mkt cap PEs don't look inflated to me but I'm not really talking about corrections in share price. Also point out Aussie banks never made a loss during gfc just profit growth slowed not like the massive losses in us or European banks (as unpopular as that might be I'm only referring to the financial health of banks in Australia being able to survive a contagious financial crisis not making commentary on competition/fairness etc)
Won't post any more on this.
Good luck think gold is going up cause europe is still a baskst case and have positioned myself for this. Just can't see a
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