CLSA: Sleaze Bank issues go well beyond “coding”

Tuesday, 29 August 2017

Some nice points from the always excellent Brian Johnston at CLSA:
CBA likely faces higher operating costs, higher operational risk capital and reduced pricing power from AUSTRAC AML allegations, according to CLSA’s Brian Johnson.
And while quantitative signals favour a switch to CBA from WBC, it’s too early to buy given further retail selling of DRP scrip issuance and the very real likelihood of a rebasing of earnings under new management.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.