Livewire News

All four major Australian banks remain core members of a high conviction buy portfolio, according to Charlie Aitken, Managing Director of Bell Potter. Shorting major Australian banks is a widow maker trade because Australian mum and dad investors won't be parted with their bank stocks unless there is risk to their fully franked dividend streams. Aitken maintains that shorting the Aussie banks is a mistake - You will be fighting Australian savers being further forced out of cash, rising residential property prices, rising confidence, rising credit growth and better than expected East Coast data, says Aitken.


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