Under the Radar Report

Are Bank Stocks a Buy? CBA, NAB, ANZ, Westpac, MQG

Richard Hemming explains why Under the Radar Report remains invested in Australia’s big banks—CBA, NAB, ANZ, Westpac and Macquarie—despite a prolonged sell‑side consensus. The four‑bank system controls roughly 70% of mortgage lending and has generated about 6% annual returns over the past decade, even as return‑on‑equity has slipped. Hemming argues analysts over‑estimated recession risk and undervalued the sector’s balance‑sheet resilience. The firm has largely held its positions, added selectively, and only recently begun modest profit‑taking.