How safe is a houses and holes stock market?

by Chris Becker

The top four banks and miners in the market capitalization of the ASX200 have historically driven almost all the corporate profit growth in Australia.

We’re talking about Megabank – Commonwealth, ANZ, Westpac and National Australia Bank (CBA, ANZ, WBC, NAB) – all essentially the same institution and the iron ore kings BHP-Billiton, Rio Tinto and Fortesecue Metals, with the only gold miner in town, Newcrest, taking up the rear (BHP, RIO, FMG, NCM). I used to call them the ASX8.