CBA’s share price could be Australia’s capital markets story of the year. Crossing $145 last week prompted some of the doubters to retest their theses. The results were surprising.
Every time Commonwealth Bank of Australia shares break new ground – they hit $145 last week – you can feel Australia’s top stock pickers wince.
Buy-side, sell-side, domestic long-only fund managers, superannuation funds, Wall Street banks – you name it, nearly all of them have missed a winning trade that was hiding in plain sight.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
