fair amount of volume lately and the SP has been moving up with...

fair amount of volume lately and the SP has been moving up with little reason and even bad news................

Regal Partners chief investment officer Phil King is betting against Commonwealth Bank, saying the financial giant is too expensive compared to its global peers.

“Australian banks are now getting attacked from all angles by competition,” said Mr King, adding that CBA was the most expensive stock on the MSCI World Banks Index.

“Buy now, pay later operators are taking share in consumer lending, non-bank lenders are taking share in business lending and private credit are making inroads across the entire loan book,” Mr King said.

Earlier this year, Regal upped its stake in buy now, pay later player Zip Co, racking up as much as 6 per cent of the company’s shares before selling down the stock in April, according to filings with the ASX.