Hi Bob, I am so selfish , but I am glad that my gradual sell off of CBA from last September , has finally seeming sensible , Wish it wasn't accompanied by the smell of dead fish coming from the bank shares I kept , although overall I haven't lost much more than I gained over the past few months . However , your 30 dollar figure still leaves the P/E premium of 120 dollar CBA at a third higher than the others , is this justifiable and , or , sustainable?
For no better reason than the facts that my eyes are green , and my cat is a tortoiseshell , I have operated for the past few years on 25% premium for CBA over NAB , and 35% over ANZ and WBC . So what would you think are reasonable premiums. Note Joffery , happy to have your opinions , but not interested in JPM etc , only in AU bank relativities at this point.
Now Bob , if your 30 bucks off was purely technical call , ignore me.
A strange world we live in where the big end of town is almost as good fun as the back end.
cheers
CBA Price at posting:
$151.73 Sentiment: None Disclosure: Not Held
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