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Re: 2005 and Beyond:The BEAR is BACK ?Yes RichKid,Here is an indication. In today's Financial Review, JP Morgan's banking analyst, Brian Johnson, stated:"Everyone thinks banks are defensive, but when your debt to equity gearing is 20 to one and you lend to the rest of the economy, I'd say you are more cyclical than anything else.......Having spoken to a lot of overseas investors in the past 24 hours, they are saying, "Why are banks going up when housing starts are falling and Mirvac Group has delivered a profit warning on development risk? Why would you be buying this?"Remember Barings Bank. It was also the bank to the Royal Family in England. It collapsed due to a rogue trader called Neeson (single handedly).
Re: 2005 and Beyond:The BEAR is BACK ?
Yes RichKid,
Here is an indication. In today's Financial Review, JP Morgan's banking analyst, Brian Johnson, stated:
"Everyone thinks banks are defensive, but when your debt to equity gearing is 20 to one and you lend to the rest of the economy, I'd say you are more cyclical than anything else.......Having spoken to a lot of overseas investors in the past 24 hours, they are saying, "Why are banks going up when housing starts are falling and Mirvac Group has delivered a profit warning on development risk? Why would you be buying this?"
Remember Barings Bank. It was also the bank to the Royal Family in England. It collapsed due to a rogue trader called Neeson (single handedly).
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