Hi Iggy, kudos and thanks for sharing your story 👏

You mentioned that buying into our local 3 banks didn't clear your own criteria + you didn't buy them for dividend income as well. Yet, you invested into all 3 as they rose higher and higher in the past year, so much so that the recent steep dips still have the banks being overvalued based on their P/B. My questions to you are as follows:

1. This is a perfect example where price is higher than theoretical valuation, but business fundamentals remain solid. When and what aspects allow you to make that conviction to break your own rules and say "yup, this is the one"?

2. Do you also invest in similarly positioned banking stocks (e.g. Hong Kong banks like ICBC, BoC etc)? If so, could you share your experience diversifying your assets in a slightly riskier economy where govt policies could potentially sway in any direction? If no, why not?

Cheers 😊