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ROEROC

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10/05/24

10:34

Post #: 73758856
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Originally posted by sabine: ↑

Citi recommended yesterday in that people move out of banks into mining dfs1 - according to the Australian …

But I’m not in any banks!

cheers

Switch from banks to miners in coming months, Citi says

It might again be a case of “sell in May”, but don’t forget to buy the subsequent dip in miners. Picture: Carla Gottgens/Bloomberg
By DAVID ROGERS
MARKETS EDITOR
4:33PM MAY 9, 2024
A surprisingly-sharp fall in the major banks and the broader share market has raised questions over the sustainability of unusually high share price valuations in the banking sector in particular.
Perhaps this is the start of a classic “sell in May” move in the local share market although the annual Macquarie Australia Conference hasn’t generated much in the way of profit warnings.
US investment bank Citi is betting that valuation considerations will lead investors to switch from banks to miners in any such pullback.
Bank stocks have soared this year on expectations of interest rate cuts in the US and Australia but those hopes have been pushed out by concern about sticky inflation.
Despite flat leads from Wall Street the S&P/ASX 200 index unexpectedly dived 1.1 per cent to 7721.6 points on Thursday, erasing all of its rally that followed a less-hawkish-than-feared outcome from the Reserve Bank meeting this week. Trading volumes were light but falls broadened to include most sectors.
Banks did much of the damage with CBA shares down 2.2 per cent despite expectations of modest upgrades to consensus forecasts after its quarterly trading update.

Investors will be wondering if the market is finally tiring of stretched share price valuations on Aussie banks…….

…etc

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I got everything all my gains are park in ETF broad index haven't cash out a cent just keep adding to it every year,
seem to be doing well last 10-15 years, beat most fund manager hand down for MER of a few bucks for every $10,000 invest
one sector doing bad another doing well.

all balance out good over long period of time and delivered bloody decent return without the head aches

REIT was all the rage 15 years ago, then come the miners and banks and now its AI and tech and data centre
another 10-15 years it will be something else
PLS Price at posting: $4.20 Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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