I'm all for you going short on CBA. The more of that sentiment there is, the more money I'll make today when I trade the over-done hype of this, just like I did when the Royal Commission was announced - went down 2% day 1, back up 1.5% and then 0.5% the next 2 days. Was as easy as taking candy from a baby.
People forget this country has legislation in place that guarantees the security of the big 4 banks. It is not only in the best interest of governing bodies to safeguard the banks, but it is arguably critical to the economy of our nation - not least because, in some way or another, most every Australian's wealth is tied to the big 4 banks. The government cannot afford to let them fail.
Ultimately, its very cute when the public sector tries this stuff, but the nett result will be immaterial to the market cap of CBA or indeed any of the big 4 in the long run.
CBA Price at posting:
$80.31 Sentiment: Hold Disclosure: Not Held
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