Tagliaferro: One bank to buy, one to sell

Anton Tagliaferro, Investment Director at Investors Mutual, thinks the banks have been oversold following fear around the housing market. “There is a bit too much fear at the moment on housing. There’s no doubt some parts of the housing market are a bit overheated, but there don’t seem to be any problems at this stage.” He’s singled out Clydesdale Bank as one they’ve been buying. Despite always being a “thorn in NAB’s side”, it not aggressively priced at 0.6 times book. It has no goodwill, is well provisioned, and has new management. “It’ll take a year or two, but I think they could do a good job and grow it. He warned investors about ANZ, saying to be careful of their lending to resources and their Asian exposure.


MORE ON



1 topic

Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.