you post "Everyone who says 'banks are cheap' are basing it on PE ratios. These ratios are based on last years profits".
Yeah what is the point, is this some trick question or something, MQG have already said that they have no exposure to subprime and they are on track with guidence, meaning there PE ratio is going to drop lower and lower and increase yield if it fall anymore, not to forger the directors have been buying shares as the price has been dropping.
If MQG is not one of the best buys current on the ASX i will quite trading and start to gamble at the casino,i reckon the market has lost the plot and not only is dumping duds which is fair enough but putting quality assets in the same league.
anyhow with all this said, i have loaded up today on MQG and CTX, to way undervalued bargians
MQG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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