This chart is a concerning one for the ASX IMO. Financial...

This chart is a concerning one for the ASX IMO.

Financial equities, by their leveraged and market exposed nature are risky investments. Our market is now composed of 42% financials that are some of the most expensive in the world.

Given that we don't export financial services it follows that they derive their profit from other sectors of our economy.  I think we all understand how the other sectors are travelling , ex-property speculation.

I understand that our banks are oligopolies and receive a huge amount of tax payer support that de-risks them to some extent, however, we can all be lulled into a false sense of security on that front

If credit spreads start widening or property softens then our market will get disproportionately hurt , given the now massive weighting to financials.