Money flowing into US markets = NVIDIA, Microsoft, Apple, Microsoft, Google, Meta. mega caps with double digit EPS growth, high ROE and leading the next industry revolution.
Money flowing into Australian markets = CBA, Westpac, NAB. No earnings growth, modest ROE, not pioneering industry.
Its herd mentality. Its zombie buying.
This is why I dont own any Australian stocks outside 3-4 mid/small caps. Significant majority of my holdings are in US magnificent 7 stocks and US index funds.
Thats what the bank rally is. A bad faith imitation of the US tech rally, without the earnings power to justify the increases in asset prices. FFS CBA Is more expensive than Google!!!!!!!!!!
CBA Price at posting:
$161.13 Sentiment: Sell Disclosure: Not Held
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