Starting to feel like I've backed the wrong horse on the RC results! :-(
From what I can see the market is pricing the broking industry for destruction (based on today's share price drops in MOC & AFG)
The FY18 MOC results presentation indicates 55.3% of home loans are originated from brokers (see page 20 of presentation).
Will the RC results really drive this sector to destruction, completely changing the landscape of how people can acquire home loans or will we see a
backpedal/ softening of implementation once it becomes obvious the changes are just handing even more power/ money back to the big banks
Looking forward to seeing MOC response to findings (& personally will hold at least till the dust settles here given the start of today's trading looks to be the maximum sentiment hole/ kneejerk reaction for the moment)
(now why didn't I sell MOC yesterday and buy IFL??)
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