ANZ 0.85% $22.59 australia and new zealand banking group limited

BANKS - is it safe to buy now, page-22

  1. 1,383 Posts.
    Good discussion guys - hotcopper has got a lot more sophisticated these days. Particularly liked roberter's insights.

    With regard to the US - I incline to think it will bounce off current levels before retesting Sep 11 - hopefully for long enough to give us the usual window dressing rally as a nice shorting opportunity.

    Banks - I agree with roberter and the main question is whether the same trends will continue for some time or whether the sector is regarded as fully valued now it is up agains major resistance.

    Funny how banks are regarded as defensive stocks in Australia. Everywhere else they are regarded as dangerous because of enormous gearing levels (which is why they always have low P/E). It only takes one financial scandal to turn them into mud.

    At the present - they have discovered a whole new way to fleece the public (fees) and therefore have something of a guaranteed income. The housing boom and the quasi-monopoly they enjoy has also helped keep them very profitable - which is why they are "defensive". However the worm will turn in the event of another of the periodic financial crises that capitalism regularly throws up. In the meantime - make hay!

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