I discuss our positioning in the big four banks and why we maintain a significant underweight. After a period of strong bank performance, we believe the outlook is shifting as credit growth moderates and economic conditions evolve, supporting our current positioning.

Disclaimer: 

The Montgomery [Private] Fund, The Montgomery Fund, and The Australian Eagle Equities Fund own shares in CBA and NAB. This video was prepared 31 August 2026 with the information we have today, and our view may change. It does not constitute formal advice or professional investment advice. If you wish to trade CBA or NAB, you should seek financial advice.