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All else equal, you’d pay more for a business generating higher returns on equity. But even the best business has a fair price, and CBA has long since surpassed it.
We recognise that the short-term macroeconomic backdrop can be very important for certain industries, but long-term fundamentals are almost always more important drivers of our fair value estimates.
Building better financial habits requires a new mindset and a new plan. Here’s how advisers can help.
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