A: I much preferred Macquarie Bank when it was around $20 a few years back – so I am a little wary about it around $80. In fact, it is up almost 40% this calendar year – starting at $58.29 and now $81.11.

That said, the company is driving forward and it is a company that will benefit from a lower AUD.

Macquarie’s FY15 result beat most of the brokers’ forecasts. While positive on the stock, the brokers in the main remain wary, given the share price appreciation. According to FN Arena, sentiment is +0.4 (scale -1.0 is most negative to +1.0 most positive). The consensus target price is $81.56 ( a very small premium to the current price), with the stock trading at a FY16 multiple of 15.5.

You will note that Macquarie is a member stock of our growth portfolio. I don’t see any reason to sell – just not sure I want to buy more at this price. So bottom line, look to buy on a market dip.