Ann: Westpac announces $3.5 billion off-market share buy-back, page-362

Yeah, I do get what your all saying & admittedly im a trader so this is gold for me, ive made $1.32 out of trades and I do sympathise with long term holders and a feeling of loss in equity...I do get all that, but it is cheap by no matter what metrics you use for one of the 4 pillar bank cartel...
Eventually the business case scenario will improve.
The management have been beaten with sticks of late, it must be a huge embarrassment to carry around being looked at as failures of banking. How ever I dont know why you are all still discounting the buyback scenario and where exactly their margins are at in this cycle.
We all accept that interest rates are going up, no matter what they say or how they want to dress it all up and margins will rise...it would seem the older gens understand this as apposed to other new kids on the block in HC forums that dont know what an interest rate environment is like let alone a correction like 2007...
Australian banks are well placed and for growth WBC is showing value here.
I would rather be in a bank in a down turn or bear market collecting 5.7% with low risk than some of this rubbish trading on multiples that are simply unbelievable and yet somehow they call them blue chip...god help them...some very bitter lesson are coming the equities way.