CBA the bubble that just won’t pop


CBA is the overvaluation that just keeps on giving:

Investors local and international have powered Commonwealth Bank’s share price to consecutive records even as analysts warn it is the most overvalued lender in Australia.

The bank waltzed to $115.60 on Tuesday, up 0.7 per cent on its previous closing price and a fresh record for the stock. It continued a bull run for CBA – the nation’s largest financial institution – which has pushed the company’s share price higher at the close of trade for much of the previous four weeks.

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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.