Aussie banks were a screaming buy 17 months ago. I loaded up on the NAB share placement.
Seriously, I am not bemoaning the banks (thought their fiduciary conduct is awful at times), I was long them last year and early this, but retail investors beware. NAB sold shares at $14 in April 2020, now its buying them back at $26. Terrible capital management.
Jackson hole end of August. Fed officials have been making noises the could be construed as tapering signals. Its not the end of free money, but might be the beginning of the end of the massive cash pump by Central Banks (personally I think they can never take it away now as the markets distorted and dependent on it - BoJ single biggest owner of Japanese stocks and 90% owner of equity ETF's for example).
Retail shareholders should at least be mindful of buying shares up here. If you didn't buy NAB at $14 why would you at $26?
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