I'm not expecting to buy at 2008 levels. 2008 levels would be me...

I'm not expecting to buy at 2008 levels. 2008 levels would be me buying at $6.90. What I'm saying is that the last time an event of this nature occurred the price went down to a price earnings of 12.5 and i foresee a repeat given the earnings have fallen further than 2008. At a per of 12.5 you'd be getting a return of about 15% including tax credits and increases in intrinsic value. This is only just more than the long term historical average of the ASX (about 11.5%). It won't make you a millionaire but it's a great investment considering it is as safe as money in the bank and you only get 4% when you put your money in the bank.