Macquarie put out a brokers note saying almost all Australian banks were overvalued but of course could not give a broker rec for the one bank that has arguably no intrinsic value and is only still operating because the regulators are so poor and ponzi down in Australia.
Perhaps ASIC should do some work on market integrity down in Australia and look further into MQG.
MQG have had a fair few regulatory fines but now should stop doing the bidding of the ALP and their sponsored lenders like Richard Marles and stop the DEI appointees, and be measured by ASIC for what they fail to do.
MQG Price at posting:
$197.05 Sentiment: Sell Disclosure: Not Held
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