if that was the case the banks in Australia are underpriced by about at least 50% for some of them especially the business non-retail banks of ANZ and WBC. And its English comparator, Provident Financial should quadruple in SP, IMHO.
Sadly neither could be the case and LFS IMHO was worth more like 22 cents to 79 cents AUD based on a model that took into account Provident Financial, Australia’s retail banks and regional banks.
