close to losing all, page-56

Sonmething for you to consider.

I can't see ANZ going back to $30 within months. The SP was at $30ish only for a few weeks.

Bank as a sector is very weak and there is no sign the bottom is reached. Many said they will buy at the bottom, but IMO one can only tell a bottom in hindsight.

The market as a whole is bearish, and would put further downward pressure on all stocks. Banks get a double whack, from a weak sector and a bearish market.

IMO, the biggest risk are the off balance sheet items (some call them the bulls##t items). We don't really know what these items are. In a bearish market, this bs items make banks a huge risk.

Come June (2+ months away) and if the market remains as it is, we would see a lot of tax loss selling to offset massive gains many would have made from resource stocks.