Carr’s Call: Don’t buy the CBA sell story

Depending on when you bought in, CBA may be well worth holding onto.

Australia’s banks have received a lot of attention of late, not all of it good. From what I can gather, the consensus is that Commonwealth Bank (CBA) is overvalued and thus ripe to sell. NAB in turn is having problems with its UK assets, and a small number of commentators still await the ‘inevitable’ domestic property crash.

Now banks have had a very hard run for sure, and the sector has outperformed the All Ords by a good margin in 2012.

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