load up at these prices, page-9

history tells us that markets arent efficent and they over react to news.

i think the current price of BNB is extremly attractive. the AGM gave an insight into how the credit cruch has affected BNB. yes it will affect earnings but the stock is down 60% from its high.

i predict that BNB will hold off listing new funds and will move towards the unlisted wholesale funds. by doing this they still get more FUA/FUM. this means their income stream continues to grow and it wont have the market sentiment causing problems, eg BBP.

BNB should be trading at $17-$18 at the moment. the debt markets arent back to normal yet but they are getting there. the capital markets are still quite weak but they arent broken. when people workout that the sky is not falling down they will jump on BNB and push it back to $17-$18.

ask yourself this question, when NAB recently hit $26.50, ANZ hit $19.80 and MQG hit $45 were these companies any different to what they are today? the answer is no, the driver of the price is sentiment, and when that occurs bargains are available. just look at the fundamentals and you will realise that at certain times stock prices arent driven by rational behaviour, at these times you should take advanatge.

i pitty the poor people that brought BNB at $34 or MQG at $90, why because they listened to the hurd and the hurd was wrong. take not of what the hurd is saying now, ie lets all go long oil, when that game is up the cash will come back to the financials and the ones that have been beaten up the most will benefit.

BNB at these prices is back to 2005 levels and they are now making 2x as much money. buy growth stocks when their PE's are low, not when they are high and let time and the market do the rest.