imo banks are around cheap to fair value.
- GFC was in 2008. Since then huge derisking has taken place.
- LVRs way down from the peak through nasty recaps and mortgagee auctions.
- dollars devalued more and more each year. Inflation. Wages, the mortgage support mechanism, rising.
- This is not the US or Europe, we have fundamentals.
- We'll be fine. I'm long banks btw. Go short long term if you have a death wish.
