For 2008valuation,estimating 15%growth on the PB,and when PB >=5,we should sell at these prices.
939 >=$10
1398 >=$9
3988 >=$6(gives this bank a lower valuation assuming subprime will still be a haunting issue in 2008)
Please also note as 林森池stated in his new book p.183,PB alone isn't enough to properly valuate these banks.With PE and PEG would paint a better picture on the worthiness.He took 招商銀行as an example on this.
Here is the details of my own calculations.
