CBA bubble resumes popping

The CBA bubble has had a rough couple of days since its results exposed it for the revenue growthless utility that it is. It’s been more or less straight down since then, setting up a spectacular double-top chart pattern:

It remains spectacularly overvalued at nearly 20x NTM, versus its peers:

And other GSIBs in the US and Europe:

In fact, I can’t find another bank anywhere that is anywhere near as expensive.


Houses and Holes
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  1. but, well, you know, it has to go up, because, . . . . . . . . . . . . . , well, just because!

  2. Even StevenMEMBER

    I’m not sure how HnH has determined it is the most expensive in the world. On what basis? PE too high? Dividend yield too low? Future profit outlook dismal?

    I don’t disagree it was expensive relative to other banks and have lightened exposure to CBA only a short while ago (lucky). Usually it goes the other way.