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I mostly agree with the comments on the two posts above. I just feel these things are already priced in at current levels, which means they need to maintain their position just to maintain their price. CBA's market cap is higher than its ever been, despite a weaker balance sheet. Its true...

My take on banks is that you don't get much in the way of assets, you're buying a revenue stream. At present their revenue stream is about as good as it should get for a while. These are the present risks for the banks as I see them. Bad debts increasing (due to higher interest rates)...