They are not actually doing that JC - certainly a policy was...

They are not actually doing that JC - certainly a policy was floated to do so to make it easier for first home buyers get cheaper houses but there were a few floating around. One child policy I suspect was outside of their responsibility parameters

Give yourself a test - go back over the year and find 5 times that the DOW went down by over 200 points and our big 4 banks went up - i'm being a bit cruel because I doubt you will find three. If you do, I'll eat my hat - you'll need to trust me. It is sitting on the table next to me.

Rule of thumb (9 times out of 10) is that the ASX falls by one third of the DOW's fall. Here I get to be unjustifiably smug - Said it would down 100 points yesterday - ASX went down 99.7 points. Said it would go down 150 points today - ASX went down 141 points. That is not the result of any special ability on my part - just used the one third calculation.

It is transparent and satisfies any argument that our markets are maybe 90% of the time going to follow suite. The shares that get affected the most are the blue chip shares - that includes the big 4 banks. Again, in a market in free fall, all shares go down and not just the banks.

In any case, I will be hanging on to the shares I have in NAB. The announcement yesterday is a one off and it may adversely affect the next dividend perhaps - the next dividend will go back to normal levels. However, we do need the DOW to come to the party - almost 900 points down this week is not the result we want.