Time to sell the banks
Time to sell the banks? The miraculous performance of the big banks masks the fact that they're riskier than they've ever been. Why would I sell? Because the rear vision mirror won't tell you anything about the future and, for the banks at least, the clouds are gathering. The economy is likely to slow (at best), the banks have a large exposure to mortgages, Australian consumer debt levels are high by historical standards and bad debts are at or near record lows. Meanwhile, bank share prices look expensive. It's a good time to sell down. (VIEW LINK)
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