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obsidianstar Private ID: 151618302
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    obsidianstar commented on
    With all the recent bank turmoil and bank runs, it's a good reminder to be cautious with our money. It's important to remember that the modern banking system is based on fractional banking, which means banks are heavily leveraged.
    For example, let's say you deposit $100 into your bank account. The bank only needs to keep a fraction of that deposit (let's say 10%) in reserve, and can lend out the remaining $90 to other customers.
    This is how banks make money, by charging interest on loans. But ...
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    obsidianstar commented on
    "Feeling frustrated that Commsec is discontinuing their international trading service for Hong Kong stocks. As an investor, it's important to be able to access the HK markets since they give you access to such a variety of companies. I managed to make a very decent profit doing short term in and out during the whole political tension game. I'm already researching other brokers that offer Hong Kong market trading and right now it seems like moomoo might be the best one. Here's to finding a new br...
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    obsidianstar commented on
    So I just received an email from Stake, my current broker. Its saying they are going to increase the fee to $3 per trade up to 30k?? I got suckered in before by the slick marketing but I found out that I'm paying0.5% each time I convert my currency to buy US stocks.
    Got to say it's really a bad news for users like me. High fees charged by brokers not only reduced returns, but also like limitations on trading. That makes it difficult for us to execute trades freq...
    Stake going to increase the fee??
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    Westpac shares have gained around 12% in value over the past decade
    When factoring in dividends, an initial investment of $10,000 would have reaped almost $19,000
    The ASX has generated a yearly average return of 5.56% over the last decade compared to 1.16% for Westpac
    $Westpac Banking Corp (WBC.AU)$ share price has travelled sideways over the past decade.
    In comparison, the $S&P/ASX 200 (.XJO.AU)$ has zoomed...
    3 of the 4 ASX big banks could launch new share buybacks worth around $5 billion, according to Morgan Stanley
    The broker highlighted the possibility that ANZ and NAB could announce a $1 billion and $2 billion buyback, respectively, in May
    CBA could top up their share buyback with an extra $2 billion if it goes ahead with a plan to sell its stake in a Chinese bank
    ASX big bank shares were finding good support today, espec...
    NAB, ANZ and CBA shares in focus as top broker tips extra $5b share buyback
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    Actually if everyone goes underwater and the bank goes underwater... It's all of our problems as our economy will face some serious credit challenges and govt will either end up propping up the bank or the economy.
    Our economic model is fragile to massive shocks and 60% house price drop would put a significant hole in bank balance sheets, let alone any homeowners ability to spend money (so good bye a chunk of general economic activity). $ANZ Group Holdings Ltd (ANZ.AU)$
    ANZ economists say homeowners shouldn't expect that the Reserve Bank will intervene to stop house prices falling too much
    Homeowners are being warned by economists at the country's largest bank that they shouldn't expect the Reserve Bank will intervene to stop house prices falling too much.
    In their latest NZ Property Focus publication, $ANZ Group Holdings Ltd (ANZ.AU)$ chief economist Sharon Zollner, senior strategist David Croy and senior economist Miles Workman say that r...
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    $CommBank (CBA.AU)$ shares will go ex-dividend on the 22nd of March, as the company pays out the $1.75 dividend it announced out of its earnings last month. Combined with a more favourable market backdrop, investors appear to be buying into the stock ahead of the dividend, with price making fresh YTD highs. The share price has run into some resistance at around $106 right now, which if broken may open a push towards record highs at just above $110. Technical support is around $103.40.
    $ANZ Group Holdings Ltd (ANZ.AU)$ is facing some heat this year due to falling lending margins in a highly competitive mortgage market.
    A turnaround of its mortgage business has been a priority with the banking giant last year revealing it had struggled to process home loan applications in the wake of elevated demand. It’s led to a loss of market share for ANZ.
    The bank says a critical issue for its mortgage business compared to other majors is that a third of its home loan ...
    News that $Rio Tinto (RIO.US)$ has moved to halt alumina shipments to Russia having no discernible effect on the share price as it lifted 0.20% to $110.55. BHP Group (BHP) added 0.54% to $46.50 while $Fortescue Ltd (FMG.AU)$ lifted 0.81% to $18.72.
    Some gentle profit-taking weighed on the share price of the big four banks. National Australia Bank (NAB) fell -1.09% to $30.87, Commonwealth Bank (CBA) dropped by 0.15% to $106.13, ANZ closed flat at...
    ASX200 Afternoon Wrap 21st of March 2022