Yes, CBA's P/E Ratio is the highest. However, the financial situation in each country and for each bank and its customers - particularly loans - is likely very different.
I've said it before and will say it again. My accountant suggested that I buy CSL a few years ago at $130. I didn't buy any because I thought it was too expensive, and dividend not high enough. Well look how that one turned out. CSL closed today at over $284. The P/E ratio is 34.25 and annual yield just 1.39%. So what is too expensive for some, may seem a bargain to others.
CBA closed on its high today/yesterday. Even I know that this is supposed to be a strong bullish indicator.
I know people who keep talking about when interest rates come down, they'll do this or that. Well just keep in mind that interest rates coming down may not happen. As it is, the idea of this keeps getting pushed out further and further. Perhaps this is one of the reasons why CBA keeps moving higher.
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