Agree. Some of the convoluted postings on WBC in recent times seem mainly to focus on trading opportunities, arbitrage on deals, shorters and angst about the buy back with little regard to actual fundamentals!!
A decent period with no new major bad news should start improving sentiment and if the next quarterly can confirm NIMs are steady, costs contained (on the way down) and sound bottom line continues, then no real reason Sp should be too far off NAB and ANZ.
(To be fair, after they purchased St George years ago I thought WBC would consolidate 2nd position fairly well, but didn't quite work like that.....)
So barring a sector meltdown, WBC appears oversold although always pays to be careful of further bad news which would continue to hammer sentiment.
Extension of the buy back makes sense and while I don't think the next quarterly update will be out beforehand (last Feb came out 17th) the instos will already have a good handle on expected results and SP will have hopefully appreciated to a level worthwhile for those wishing to participate..........
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and angst about the buy back with little regard to actual fundamentals!!
(20min delay)