Agree with you, Foot max, on the NAB SP piece. In fact, I am surprised NAB’s SP has been below $20 for so long. Perhaps the market does not think Australia will turn off the tap to unskilled and mock skilled immigrants for the next 2-3 years like the Budget projections.
I guess Australia should have some immigrants, PhDs, top executives in the C Suite, below that I think any immigration is basically unsustainable for Australia in its present form, and not much good for NAB and the other three banks unless Australia gets to a 3% real unemployment rate and participation rate falls off.
Zero immigration or net emigration for the next 5 years would be very good IMHO and good for NAB and its SP IMHO.
NAB Price at posting:
$18.69 Sentiment: Buy Disclosure: Not Held
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