Advertisement
Hysterical markets, which are never wrong, are readying for a CBA Death Star takeover of the far larger planet Google.
The growthless mortgage zombie has an astonishing NTM of 26x versus Google’s modest 20x for 15-20% profit growth.
Admittedly, the CBA’s Death Star valuation only delivers a market cap of $259bn versus Alphabet’s $3tr, but the former’s growthless outlook is all part of a cunning plan to emerge from hyperspace close enough to Google to launch a reverse takeover…or else.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.