then put your money where your belief system is and buy NAB...

then put your money where your belief system is and buy NAB because the market clearly thinks there is a lot of scandal to come at the NAB and are trading it that way. CBA was sold off from close to $100 AUD to $80 where it has remained. CBA is the only Australian bank to be priced without much scandal baked into the price.

All the others are priced as if there is considerable scandal and fines and non-compliance class actions to come. I reckon scandal is baked into the NAB SP, totally into the WBC SP and the ANZ SP.

seems like the market has the same recollection of the Royal Commission that I do and bar for potentially some confirmation bias, I see no other reason why the three non-CBA banks are trading at such lowball prices. But the market is not giving them a break so I remain wary.

The “remediation” does not appear to be working because the “remediation” according to the AGM transcripts and media reports appears insider driven and riven with problems like the banks’ cost out programs that mean there are simply not enough people to remediate.

and shareholders suffer the consequences of all this failed remediation and the SPs drop.