Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. ... Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), First Quarter 2022. Q1 2022 (2nd) -1.5% Q4 2021 (3rd) +6.9%
Q2 2022 will be likely negative growth.....lets wait for the announcement in 1st week of July. By then we are in the technical recession. Heloo and welcome year 2008/09
KY, I do know that many American banks are now trading at single digit PEs and I don't know the real reason. Apart from bank stocks, American shares are still very, very expensive. Dow, Nasdaq and S&P component counters are trading at an average PE of 45 to 50, even after numerous recent sharp falls. The subprime crisis of the US triggered the 2007-2008 world financial crisis. Citibank shares nose dived by over 95% and would be bankrupt without rescue. Bank of America also plunged by around 90%. It could this reason that caused investors to stay away from bank stocks. There is no reason why Maybank should mirror the performance of US bank stocks. When the US market broke record after record especially during Trump's presidency, our market didn't follow. Even if the US market drops by 50% from its recent peak, it is still trading at a PE of over 25.
@Cslee1215: Have I offended you? Why you are so rude in your message? Totally abusive and show no respect for others. Although it is an open dialogue, but be careful of the words you chosed and used on others.
Posted by prudentinvestor > 1 day ago | Report Abuse "When is RM5.80 coming? You have been talking about Maybank falling to RM5.80 for more than a year and I can't wait for too long." ========================= I don't think it has been a year. Please check your fact. The stock is not waiting for you either.
PunTatBerSiul, when you post something which has no basis whatsoever and only an ignorant person would be taken in, be prepared for unkind retorts. At least an unkind retort is much better than suspension.
RM8 also wait until my neck broken d. RM5.80, July 2122? Actually, RM20 also not far in future based on the same concept. In other words, this kind of predictions are meaningless. No need to waste more time to respond to the RM5.80. Or, just treat it as an entertainment.
"5.80 is just another 3.00 down from current level. It's realistic." It is not realistic because you were only making a wild guess. Maybank needs to drop about 33% from today's level to reach RM5.80. Assuming all the other component counters of KLCI also drop by the same margin (some with high PEs like IHH and P Metal may drop more), the KLCI should drop to around 950 points. Over 90% of the counters listed on Bursa would fall much more seriously than Maybank. Only a very severe recession would result in such a situation. We will be in deep trouble.
@KY "Mild recession? 20% crash only? Haha" Did I write it would only crash by 20% or it would crash by another 20%? Read my post again. Which Malaysian bank stock dropped by over 90% during the world financial crisis of 2008/2009? Citibank fell by over 95%, Wells Fargo by over 90%. Sharp falls in the US banks you mentioned could be due to investors losing faith in the banks. Compare to the 2008/2009 lows, the Dow and the S&P are still more than 300% up, the Nasdaq is still 10 times higher. Why should Maybank mirror the performance of US banks?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....