WBC price target $41, page-200

ok so interest rates don’t stay low forever. As soon as the economy turn interest rates starts ticking up together with the value of the banks. Neobanks together with the hundreds of startup banks die off because they can’t survive in a high interest environment. This circle takes ten years or so to complete - but complete it does. The smart, patient (and brave) investor buy bank shares in a low interest rate environment and reap the benefits in the years thereafter.

the rest of the “investors” ... - they sell in the low environment that we have now and will probably buy back in five-ten years or so when everybody else is. Just like most bought bank shares at their peak in 2015 and are selling now. The circle will always close and the patient ones are always rewarded. It’s just how the stock market works.