Yep. Including franking credits @60 the current yield exceeds 10%. Don’t think it’s going to happen any time soon but you never know your luck.
Don’t understand why people hate the banks so much, other than envy. It’s their job to make money; they are good at their job; buy them when they are cheap and you will join them and also make money (heck they will make you money even if you buy them when they are not cheap). That is not hard, is it?
I am starting to think it has almost become a quest for some to try and beat the Australian banks, just to say they have done it. Sure it might be possible in the short term, but why would you bother and pick on someone whose job is to make money and have been very good at it. If you feel the need to short, there are plenty of debt laden, poorly run companies out there. Go and short them. Why pick a fight where it’s likely you will get hurt, possibly badly. As I have said before, it’s not referred to as a widow maker trade for nothing. It just doesn’t make sense to me.
Anyway, good luck to them. I will stay long.
CBA Price at posting:
$81.16 Sentiment: Hold Disclosure: Held
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