re: mums and dads buying like crazy
The stock has fallen at its most approx $3.80 or about 12% but I think you also need to remember that the NAB has underperformed all the other banks by a significant amount over the last few years. (it did go above $36 in Aug 02) Of course they've deserved to underperform with some of there disgraceful mistakes, eg. homeside, forex trading, AMP takeover stuffup, directors fighting.
The institutions are a bit worried that there may be other little nasties around the place but it'll take at least a couple of reporting periods to find this out. At its current price and with the earnings downgrade factored in the fundamentals are very enticing. 6% fully franked div, per = approx 11. I don't think we'll see much lower from here barring any more significant nasties.
Also need to remember that NAB is by far the biggest business lender. When the economy grows, the NAB probably benefits most from business pickup.
NAB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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