Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team Financials have improved recently - What is your view short term from the point of view of lightening my weighting towards the Big 4 or replacing with Macquarie which I've failed to get set in several times. Do you see further upside before selling? At what price is MQG good risk reward to buy? regards
Hi,
A reminder that our comments are general in nature, and don’t take into consideration any one persons personal situation.
At MM we aren’t traders of the banks per se but we do like to add value through tweaking our exposure around the edges, currently we are mildly underweight the sector in our Flagship Growth Portfolio:
We hold 6% in ANZ Bank (ANZ), National Australia Bank (NAB) and Macquarie Group (MQG).
The markets experiencing some fairly aggressive selling this week as we approach the EOFY with increasing recession fears adding to the negative sentiment. At this stage we are monitoring Macquarie Group (MQG) believing it has a resilient earnings base which we see as well placed to weather volatile market conditions, our ideal level to increase our exposure to MQG is around $160.
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