When the market falls, banks might be a safe haven.
Not only in Australia but globally as well, they have been beaten up a bit and if you put your money in banks that survive, they tend to reward you through the cycle.
I would not be too worried about Sydney and Melbourne property. It could fall 30-40% but IMHO that will reduce housing starts and with immigration numbers not falling due to bipartisan policy, eventually, demand will outstrip supply.
In any event, there is little prospect of the banks around the world failing due to the market crash except for those in investment banking.
The cost base going up for the banks in Australia is better than the alternative such as massive regulatory fines like those in the U.S., NYC and England and a higher cost base in governance, risk and compliance might be better than customer reductions like seen in the AMP, FIG and IFL cases.
WBC might be alright along with the other Big 4 banks + the two regional banks, BEN and BOQ IMHO.
I would prefer WBC to say MQG.
The pending market crash begs the question when is the best time to buy.
When the market falls, banks might be a safe haven. Not only in...
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Last
$33.06 |
Change
0.620(1.91%) |
Mkt cap ! $113.6B | |||
| Open | High | Low | Value | Volume |
| $32.67 | $33.06 | $32.55 | $172.5M | 5.243M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 150 | $33.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.07 | 8759 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| WBC (ASX) Chart |