News: MQG UPDATE 1-Macquarie Group trims dividend payout range, profit rises, page-12

I see what you're saying but it's like expecting a Ferrari (Macquarie) to cost as much as a Tata (NAB). Or a house in Vaucluse (Macquarie) to be worth as much as a house in Penrith (NAB). 20 P/E for such a high-quality business with better growth prospects and lower risk than the other banks seems like a bargain to me. I'd still buy more but I have $30k invested in Macquarie (grown to $45k in 2 years). In the context of the market and where interest rates are, which high-quality business is trading at your average P/E of 13, 14, or 15?