who knows, it’s cheap on current and forward PEs. However no one can accurately predict bad debt levels. I doubt any central bank wants to see mass defaults, leading to a full recession or depression. Their objective is inflation and it would be more than truly stopped by this point.
So when to buy banks? Well I loaded up on ANZ earlier this year/ over the 2022 NYE period. I’m now buying WBC as it’s the cheapest. Added more today at 22.10 and 22.11. I buy during fear periods, and it’s started here. Notwithstanding if the S&P500 declines 10-20% from here then of course this will be sub $20 as you mentioned above. However, that is not assured so I stagger buys once a blue chip stock becomes in value territory. This is almost travelling in a forward 10 PE range!!!!!!! That is cheap.
WBC Price at posting:
$22.07 Sentiment: Buy Disclosure: Held
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