why has westpac tanked?, page-4

My view is that Australian property market may have a correction some years in the future, but that doesn't mean we will have a banking crisis. Because Australian banks do differ from those in the US (where banks can only claim the house in a default), Australian banks can claim beyond the house itself, which effectively reduces the risk of a default. We do observe stricter lending standards in the banking sector post GFC which may slow down earning growth, but comparing horizontally there aren't alot of banks overseas that possess as good quality assets as we do here.

The fundamentals on property prices remian positive(wages/GDP/land supply/increase population..demand).

I don't really think all hedge funds are good investors, they do have a reputation of being smart, but not neccessarily always successful. There're more that went almost bankrupt in the GFC than those a few famous ones that still exist. If we did not have a correction here, the news won't even been reporting what hedge funds were doing: hedge funds trade blue chips too!

Come back to fundamentals, I do believe the reward-risk equation is now on the LT investors side, as it is usually a good time to get in a gloomy time.

Good times ahead!

not a financial advise...