With Europe certain to unhinge.... only the exact size of disaster remains to be seen... i see no need to buy banks yet. If you see divs you never have to wait too long as various banks have differing year-ends. Aussie banks are world-class but they can't escape some of the collateral damage from overseas. Down the trk Aussie banks will be cheaper than they were over 7 years ago. e.g. 14/04/04 WBC closed at 17.89 after earlier high of 17.99. More than any other sector (aprt from media) it will (IMO) pay to be patient with the banks. I doubt they'll hit the absolute lows in height of GFC... but risk still to downside from here.
WBC Price at posting:
$19.51 Sentiment: None Disclosure: Not Held
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