Banks need to fall 30% before they represent good value

Banks need to fall 30% before they represent good value. It's been a long time since we thought the banks offered good value. High residential property prices and the Australian economy's exposure to a bursting Chinese credit bubble add new layers of risk to any investment in the banks. Our two preferred banks are Westpac and Commonwealth Bank, followed by NAB, however their prices would each need to fall at least another 30% before we would consider them good value. We consider ANZ significantly more risky than the others due to its aggressive Asian expansion and it would need to fall at least 50% before it starts to look interesting. More insights can be found at: (VIEW LINK)