Why are ANZ & NAB underperforming their peers?
For March the big 4 banks are down - ANZ 8.1%, CBA 4.1%, NAB 9.2% and WBC 5.1%. Why are ANZ and NAB down way more than the others?
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Answer
Hi Cameron,
As I often say there are lies, lies and statistics and when we compare relative performance it comes down to where you draw the time line in the proverbial sand for example year to date at the time of answering this question (Friday 2pm) the stories very different:
- ANZ Bank (ANZ) -4.6%, Commonwealth Bank (CBA) -6.7%, National Australia Bank (NAB) -9.8% and Westpac (WBC) -9.3%.
i.e. suddenly ANZ Bank (ANZ) is the best performer!
The last couple of weeks has seen investors flock to the “safer” end of town because of the issues in the US & Switzerland but at MM we still prefer ANZ and NAB in the “Big 4” moving through 2023 and into 2024.
