anz has topped, page-3

Exposure the RE market which is about to crash both Demographicia and Morgan Stanley with approx 40% over valuation

http://www.theaustralian.com.au/business/ponzi-borrowers-inflating-housing-bubble/story-e6frg8zx-1225906547850

ANZ self insures its mortgage debt

China slow down leaves Australian economy very exposed Hugh Hendry is shorty China

http://www.ft.com/cms/s/0/e6145228-cfde-11df-bb9e-00144feab49a,s01=1.html?ftcamp=rss

Asian banks are another effective way to short China

Chart looks like the 12-24 ANZ rally is a counter cycle bear rally

There are heaps of fundamental reasons but the main one is that ANZ has a large residential RE exposure in a RE market that has reached private debt to income limits, while China continues demand this doesn't get exposed but if China should downturn then unemployment will increase in Australia this will kick off a residential debt deflation exposure