Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Guys, Does the ongoing ASIC investigation into the ANZ Bond trading scandal have any effect on your views of ANZ as a buy and hold for your Active Income Portfolio? ‘A scandal of epic proportions’: why heads could roll at ANZ. The Fin. Listen on Apple Podcasts: https://podcasts.apple.com/au/podcast/the-fin/id1649633861?i=1000664627252 Thanks, Roger
Hi Roger,
Markets are pretty efficient and by the time news like this is in the AFR, it’s generally priced into the stock. ANZ is now trading at a 20% valuation discount vs the broader banking sector, having materially underperformed over the past year. 20% is its biggest discount in the last 5-years, implying a lot of negativity around this issue is priced in.
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