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I did prefer MFG 10 years ago to CSL ... one went up 50 fold .. whilst not an avid poster on this site, I did have numerous discussions WITH MYSELF mainly about CSL and MFG where people were more interested in PDN and the Uranium bubble than the likes of CSL or MFG.

I note, with great amusement this thread, people not commenting say at $30- not so long ago and now dumping at $24- ....  Value is always a reflection of price and whilst not amused at say $28 and above for WBC and exiting and reducing ... $25 and below and todays addition at $23.93 most amusing despite being under water on the initial addition if one does not count the $5- plus previous capital gain over the last 12 months.

Yep Banks will not do a CSL or close to it, however ... in and out ... in and out ... that added to a grossed up yield of 8% .... one triples your money over 10 years and then some.

Only time will tell at this stage.

I note ... the Trump circus yet again hits and now Bloomberg the Republican who is running as a democrat and his media mouthpiece is claiming, yet again ... some breakthrough on China and in a blink USA markets rally 1% .

Likely the rally goes on, when the end outcome of stage one ... is nothing. Nothing good for either China or in fact the USA.

Back to sleep for now. Have no brilliant ideas in this market with even second rate stocks say in the consumer side which their numbers are sucking like COL and WES are up 30-50% . The attraction of banks is that whilst their numbers are not great, they are reflecting reality and not priced at absurd levels.

In the end, 2020 likely to be a doosey with 2019 rewriting many finance books and macro economic principals and laws that have and still do dictate things. Just in 2019, we ignore the USA deficit and corporate paying 50% of the tax they did in 2006 ... and ignore that USA the majority of the population now pays well over 3 times the price for healthcare which is not something which is optional. Either you get medical help or more often than not you die.

Whilst at this stage unlikely a change in 2020 from Trump, heaven help them if they reversed the idiotic tax cuts to the rich and actually made healthcare in the USA cost similar to Canada over a few years. The market will have a cow, let alone wealth tax for cretins who evade tax and ones like Bezos who amazingly had a billion dollar company that rarely had made a profit, never paid a dividend and PAYS NO TAX .... PAYS NO TAX.

Quite a contrast to say an Australian bank which pays through the nose tax ... highly regulated and at this stage being micro managed and supervised to absurd standards. These things go in long term cycles and USA will eventually change either in 2020 or 2024 and demand tax actually be paid, conversely here, this bank bashing and blaming mantra will fade and things will go back to the last 207 years for WBC.