Think you have missed the point! Certainly not gilding the lily and have not ever defended any of the poor practices in recent times
In fact for quite a while now I have considered WBC as the least preferred of the big 4 however now that it has been hit on the head I have reassessed as a value proposition.
At the end of the day the buy back will be whatever it will be and not sure why some holders are getting so upset. One way or the other they will be returning capital so will be ultimately beneficial to long term holders
Financial performance is what drives the sp of these companies and ultimately an ability to maintain sound financial performance and dividends will translate to SP.
The almighty dollar eventually trumps sentiment!
I happen to believe they can maintain bottom line and correct the trends for NIMs and costs. I also believe the large fundies have sent a clear message to WBC after recent annual results and would be very surprised if a turnaround is not evident.
It is just an opinion - I have been wrong before.
You obviously do not believe current management can operate this business as it should in which case you should rightly have a sell sentiment. That's fine. If you are correct and financial performance declines then holders may see further pain, just that's not how I see it!
As far as shorters go -HC is absolutely alive with posters who blame everything on shorters even on one of our biggest companies with strong liquidity without a thought for any bigger picture analysis.
As for AMP, not sure what your point is? Amp is a classic case of exactly what I am talking about. Posters stating opinions without looking at actual financial performance and outlook, just in reverse to WBC. Amp had a "run for the hills" look quite some time ago
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