Super fund giants, big bank share runs, hyped up burritos, data-centre floats and another hot year for private credit were the most divisive themes in 2024. What’s next?
In early February 2024 this very column proclaimed that Commonwealth Bank’s share price “had gotten out of hand”.
The brokers and traders that had spent the summer in the office were perplexed at how the sharemarket’s largest bank had nudged up to $115, or 22 times its future earnings: the equivalent of a one-in-1000 deviation from its historical valuation.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
