Several BILLION in writeoffs, in US$$$$$. Geez it really is time to throw in the towel. But didn`t ANZ issue a statement that its exposure to Marconi would be covered by its provisioning and it`s full year profits would still be in line with market forecasts? Hasn`t ANZ being tightening its exposure to buisness for a while now(as have the other big banks probably, they`re not that stupid). For my money the banks will bounce back, dividends don`t lie, check out the steady growth and take a look at the forecast dividends-go on shoot me down its only a forecast i know. Funny thing is the banks have been fairly easy to forecast and are not subject to numerous brokers upgrades/downgrades so any time they are sold off like this is a good time to buy in my opinion. BTW could somebody post say BHP`s actual dividends paid over the last ten years? I`d be interested to see its dividend "growth" especially as its a stock that usually trades on a growth multiple.
Yes i`m long CBA and am just waiting for the selling to end before i buy more. Oh and isn`t there an index reweighting in october which will favour the banks?
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