Agree I think small valuation write down this June, and also for next few valuation cycles as managers don't take the valuation hit all at once. Also need to look at spread over the risk free rate. COF has a ~20% LVR headroom until LVR covenants are breached and the LVR should be the metric we should be concerned about. ICR's are fine as no more rate hikes.
COF Price at posting:
$1.26 Sentiment: Buy Disclosure: Held
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