Market Matters Morning Report Tuesday 29th March 2016
Why the banks are so important to the Aussie Market
Good morning everyone & hope had a great Easter break
Frank Lowy was interviewed last week by David Gonski and one quote was interesting. ‘There’s no reward without risk’. This is an extremely relevant quote to Market Matters. We’re constantly evaluating potential trades in the context of risk v reward – they go hand in hand. Far too many investors simply look at the potential upside without enough focus on the downside. In this mornings note, we look at bear case valuations for the banks.
It was a very interesting and telling Thursday session on the ASX with ANZ flagging an increase is bad debt provisioning based on what seems to be exposure to resource companies. ANZ was off sharply, other banks followed suit.
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