ANZ is not comparable to SGH, STO, BHP or SBB. Not in terms of its business model, structure or revenue generation. None of those businesses are even in the same sector as ANZ.
Perhaps you could say my investment thesis is based on a different set of parameters to those the market is currently using the determine ANZ's future earnings. In fact, this should be true of the decision to purchase any stock.
Without going into too much detail, here are several examples of issues I think the market is misguided on.
It appears highly likely that the implementation of the Basel Accord capital requirements will be postponed due to the inability of a number of European banks to meet them in time. I also think ANZ will be able to retain sufficient capital by utilising a DRP and/or potentially making a subsequent hybrid issue.
Furthermore, I don't believe that the increase in bad debts over the next few years will be anywhere near as high as many are hypothesising.
ANZ pays 10% in Dividends, page-51
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Last
$29.60 |
Change
0.260(0.89%) |
Mkt cap ! $89.07B | |||
| Open | High | Low | Value | Volume |
| $29.49 | $29.73 | $29.30 | $111.6M | 3.774M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1146 | $29.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.61 | 30857 | 4 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |