Cba has to come off at some stage the market longer term is more rational , it will be used as funding source for other sectors , particularly resources when China shows some green shoots. It’s overshot for many reasons , none of which is due to its intrinsic value . I am an investment adviser , and CBA price is making the whole market expensive , ETFs unattractive, and is creating a distortion. I am highly confident the CBA will provide poor total returns for those buying at these levels and believe that the likelihood is it will produce total negative returns over the medium. With a 3 % yield a 15% Sp correction gives one a -be return over 3 years. The most expensive bank in the world by a large degree in the most indebted nation with falling growth that is actually in recession if not for public sector spending makes zero sense.
CBA Price at posting:
$157.06 Sentiment: Sell Disclosure: Not Held
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