Australian Banks Stock Discussion
because i NEEDED growth ( along with divs. ) i went heavy on MQG ( and have had a wonderful ride ) and bought some of all the ‘lesser ‘ banks ( including ABA and MYS ) and also hold some VUK and KSL for a bit of international exposure
PLEASE NOTE … MQG must be classed as higher risk , it does all sorts of complicated stuff ( including boring stuff like home mortgages )
stuff like leasing aircraft , hedging contracts on gold miners , and all sorts of investment funds
i bought some WBC but sold down to a trivial amount ( a mistimed exit while DRPing ) after they went on the ‘virtue-signalling path .
where i disagree with the commentator is i think in the long run the $A will stay solid , we sell a LOT of dirt ( minerals ) and energy , and we still have underdeveloped projects ( like Olympic Dam )
the main danger with the normal banks is contagion several BIG international banks are already zombies and once a big one tumbles say Deutsche or Credit Suisse all sorts of ripples are going to be felt
