Alex I totally agree ..but don't ignore the attitude by the...

Alex I totally agree ..but don't ignore the attitude by the bulk of investors that" Banks are a safe investment that pay a good dividend" very few investors today remember the riots in Bank prices in 1987 when Kerry Packer was approach to put a sizeable sum into one of them--- he did ad got a very good placement price...and the bank survived.Most Australian Banks today have PEx over 15x it wasn't so long ago banks were classed like a utility and had PEx in upper single figures ..yes read again Single Figures.

Let there be no confusion bank prices can, and have, more than halved in recent history...why can't it happen again..most Australian banks have historically borrowed from US banks and we know US Banks are in a mess because they lent vast sums at very low interest rates..these loans are due to roll over later 2024/25 and the new interest rates will be much much higher ..indeed most loans were made at very low single numbers and 100% non recourse ..basically the US banks will lumped with many many billions of dollars of non paying property loans!!! This alone will put enormous pressures on the international banking system...who's to say what the effect will be in weaker StockMarkets.?.

Please remember that most Super funds in Australia have a high exposure to overseas economies and markets and it's what happens because Australia is too small now for the massive amount in trillions of dollars in supper funds, this will effect their returns....it's called "minimising risk by broad Asset allocation."

There are a lot of companies as Warren has said now swimming with no trunks..and it's only when the tide goes out we will see the real picture.!!!!!
All the Best to All