anz 15 bucks place your bets, page-116

here we go again :)

folks if you are long ANZ then IMO you should wait for the next counter party rally and close and get out

the stuff thats happening with ANZs counter parties could take much lower again

ANZ solid earnings, its dividend and it grwoth are all very fragile, the depend ona solid economic outlook, take that away, add a bit Opes and CDS counter parety pain and their earnings could vanish over night

it happened to the banks in 1992 under a much easier scenario than we face today, earning vanished in less than 12 mths, who knows what exposure ANZ has to other Australian CDS counterparties, to date we have only discussed the US based monoline counterparties, we have yet to discover who are ANZs australian CDS counterparties

ANZ management were poor supervisors of risk, Goode and co were asleep at the wheel, the only upside is that Smith is showing signs of being a gutsy leader, he got passed a shocker to run with, he seems to have realised that now and taking the steps to get the boat back on track

interesting times $10 isnt out of the question before xmas