June 5, 2025 • 6 mins
We hear so much about the banks, miners and retailers. What are the other big sectors on the ASX and why don't we hear so much about them?
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Welcome to Ask Fear and Greed, where we answer questions
about business, investing, economics, politics are more. I'm Michael Thompson
and hello Sean Ayle.
Speaker 2 (00:10):
Hello Michael, Sean.
Speaker 1 (00:12):
Good question today. I mean they're all good questions, aren't they.
But look this one. Look on, No, this is a
good one. We hear so much when we are talking
about markets. We hear so much in Australia about the banks,
and about the miners and about the retailers. But there
are other big sectors there that don't seem to get
(00:32):
as much attention. What are they? Why do we kind
of overlook them? Not we we we don't know.
Speaker 2 (00:39):
We anything never able to look at me.
Speaker 1 (00:41):
I don't think I've checked my past. I've never overlooked anything.
Not in history. No.
Speaker 2 (00:45):
No, we actually often talk about the eleven sectors on
the AX, and there are eleven sectors. The far and
away the most dominant one is a financial services sector.
It's we're about thirty two percent of the market. This
is the whole market, not the two hundred the whole market.
When it's thirty two percent of the whole market, it
gets plenty of airtime. And when the big guys are
(01:05):
like Commonwealth Bank, et cetera. They get plenty of airtime.
The next biggest sector is basic materials and that actually
includes the big miners, so that's why they get a
good run in there. Industrials is the next one. Now, industrials,
it's kind of there's only one hundred and fifty members
of it, but it's kind of a catch alls like
(01:26):
transurb and Brambles quantuses in their rece some of the
toll roads. Those sorts of groups want me to run
through every one of them, I one, not necessarily. Yeah.
But the next biggest, which we prot don't talk a
lot about is healthcare.
Speaker 1 (01:41):
This is interesting actually because there are some household names
in healthcare. It's and it seems to be a sector
where Australia.
Speaker 2 (01:50):
Kind of outperforms almost yes, so we punch above our weight.
Nine percent of our market is healthcare companies like CSL
I mean Sigma Healthcare. Nowadays it's got MST Warehouse. It's
sort of consumed discretionary almost like it's almost but Promedic
it's incredibly successful company recently res medfish from pap or
Cochlear Sonic Healthcare. Some of the bier text Telix pharmaceutical
(02:13):
some of those sorts of organizations. So healthcare is a
really big sector for us. We probably don't spend as
much time on healthcare because we get so excited about
banks and minors. But you are looking at me, You
are frowning at me here, Michael. But I think healthcare
does deserve allowed a run.
Speaker 1 (02:29):
No. I was actually just thinking that there is endless
opportunities for us to talk about this. Sorry, I was
actually planning ahead for future episodes of fear and great
thinking all about healthcare. Sorry, please go on the next.
Speaker 2 (02:43):
Then there's consumer cyclic calls, the Jabe high fires of
the world and stuff, real estate, communication technology. That the
smallest sector is utilities. Second smallest is energy. Some of
those companies do some of those sectors do really well
or not purely on the back of one or two stocks.
So energy would side Santos does something in that sector
goes up and down. So what's the smallest did you
(03:04):
say utilities? Okay, all right, So if you think utilities
has only got twenty one companies in it, like materials,
which are really big ones seven hundred and seventy three companies,
utilitiz only has twenty one companies in it, and so
Origin Energy is a good one. Ago Energy, API Group,
the Infrastructure group me Iridian Energy.
Speaker 1 (03:29):
Can I just clarify when you did the infrastructure group?
Was you did a little your mind were mining a bridge? No,
I wasn't.
Speaker 2 (03:36):
I was actually mining poles and wires.
Speaker 1 (03:38):
Oh okay, yeah, okay, little kind of gesture with your hands.
That's the international symbol for poles and wires. Kind of
looked like a bridge, which also fits in infrastructure.
Speaker 2 (03:46):
Yes, yes, yes, yes, yeah. So look in the end
we probably do over we talk about financial services a lot,
which is a bank's basic materials, which are the big minus,
particularly in industrials. But you know, health care probably deserves
a better run. So to real estate, why do people
invest in real estate are a certain type of person?
Speaker 1 (04:05):
I reckon, I think real estate. That's a big claim
to make that right now.
Speaker 2 (04:11):
I mean it's huge industry real estate. So I don't
say that in a negative sense. I'm just I mean
you obviously took it that way, Michael, which is disappointing.
Speaker 1 (04:17):
It's because I'm a cynic. We've established this. It takes
a particularly what an optimistic kind of person? Do you think?
Speaker 2 (04:25):
Yes? Well, no, I just I mean, you've got to
be slightly optimistic to invest in any sector. Yeah, I
don't know one sector I find. I'm moving on from
that conversation Materials. You know there's seven hundred and seventy
three companies and materials Index, like all those tiny miners
and stuff like that. They might be worth a million
dollars list than the art sex you.
Speaker 1 (04:47):
I love how much you are scrambling now to get
away from the comments that you've made about property investors.
Speaker 2 (04:52):
This is it's probably I find how do you know
the difference between one commercial building and another? And I
know that it's just not my area of expertise, so
perhaps that's why I'm not very good at it.
Speaker 1 (05:05):
But I suppose it's like in mining stocks, how do
you know the difference between one patch of ground and another?
You use a geologist. He's a building geologist.
Speaker 2 (05:16):
Okay, give me five property companies.
Speaker 1 (05:20):
If you've got your own question that you would like
to send through to ask fear and greed, then please.
Speaker 2 (05:24):
Sure you can give five.
Speaker 1 (05:25):
Yeah, I can put around time. Come on, Look, there's
so much. I was going to say, goodman, because it's
my favorite.
Speaker 2 (05:32):
So you're worried you don't know where they are. No Center, Strickland, Vicinity,
GPT have back, Tartle Hall, Dexas stock beat me to Scockland.
Speaker 1 (05:41):
Y about lend Lea's one of my faves. Send your
questions on Through Fear and Greed dot com dot au
LinkedIn Instagram. Facebook has been a mess today, hasn't it, Sean? Anyway,
I hope you've learned something. Don't know whether you have
no okay, Thanks Sean.
Speaker 2 (05:58):
Thanks Michael, Michael Thoms.
Speaker 1 (06:00):
And then this is us fear and great
Welcome to Ask Fear and Greed, where we answer questions
about business, investing, economics, politics are more. I'm Michael Thompson
and hello Sean Ayle.
Speaker 2 (00:10):
Hello Michael, Sean.
Speaker 1 (00:12):
Good question today. I mean they're all good questions, aren't they.
But look this one. Look on, No, this is a
good one. We hear so much when we are talking
about markets. We hear so much in Australia about the banks,
and about the miners and about the retailers. But there
are other big sectors there that don't seem to get
(00:32):
as much attention. What are they? Why do we kind
of overlook them? Not we we we don't know.
Speaker 2 (00:39):
We anything never able to look at me.
Speaker 1 (00:41):
I don't think I've checked my past. I've never overlooked anything.
Not in history. No.
Speaker 2 (00:45):
No, we actually often talk about the eleven sectors on
the AX, and there are eleven sectors. The far and
away the most dominant one is a financial services sector.
It's we're about thirty two percent of the market. This
is the whole market, not the two hundred the whole market.
When it's thirty two percent of the whole market, it
gets plenty of airtime. And when the big guys are
(01:05):
like Commonwealth Bank, et cetera. They get plenty of airtime.
The next biggest sector is basic materials and that actually
includes the big miners, so that's why they get a
good run in there. Industrials is the next one. Now, industrials,
it's kind of there's only one hundred and fifty members
of it, but it's kind of a catch alls like
(01:26):
transurb and Brambles quantuses in their rece some of the
toll roads. Those sorts of groups want me to run
through every one of them, I one, not necessarily. Yeah.
But the next biggest, which we prot don't talk a
lot about is healthcare.
Speaker 1 (01:41):
This is interesting actually because there are some household names
in healthcare. It's and it seems to be a sector
where Australia.
Speaker 2 (01:50):
Kind of outperforms almost yes, so we punch above our weight.
Nine percent of our market is healthcare companies like CSL
I mean Sigma Healthcare. Nowadays it's got MST Warehouse. It's
sort of consumed discretionary almost like it's almost but Promedic
it's incredibly successful company recently res medfish from pap or
Cochlear Sonic Healthcare. Some of the bier text Telix pharmaceutical
(02:13):
some of those sorts of organizations. So healthcare is a
really big sector for us. We probably don't spend as
much time on healthcare because we get so excited about
banks and minors. But you are looking at me, You
are frowning at me here, Michael. But I think healthcare
does deserve allowed a run.
Speaker 1 (02:29):
No. I was actually just thinking that there is endless
opportunities for us to talk about this. Sorry, I was
actually planning ahead for future episodes of fear and great
thinking all about healthcare. Sorry, please go on the next.
Speaker 2 (02:43):
Then there's consumer cyclic calls, the Jabe high fires of
the world and stuff, real estate, communication technology. That the
smallest sector is utilities. Second smallest is energy. Some of
those companies do some of those sectors do really well
or not purely on the back of one or two stocks.
So energy would side Santos does something in that sector
goes up and down. So what's the smallest did you
(03:04):
say utilities? Okay, all right, So if you think utilities
has only got twenty one companies in it, like materials,
which are really big ones seven hundred and seventy three companies,
utilitiz only has twenty one companies in it, and so
Origin Energy is a good one. Ago Energy, API Group,
the Infrastructure group me Iridian Energy.
Speaker 1 (03:29):
Can I just clarify when you did the infrastructure group?
Was you did a little your mind were mining a bridge? No,
I wasn't.
Speaker 2 (03:36):
I was actually mining poles and wires.
Speaker 1 (03:38):
Oh okay, yeah, okay, little kind of gesture with your hands.
That's the international symbol for poles and wires. Kind of
looked like a bridge, which also fits in infrastructure.
Speaker 2 (03:46):
Yes, yes, yes, yes, yeah. So look in the end
we probably do over we talk about financial services a lot,
which is a bank's basic materials, which are the big minus,
particularly in industrials. But you know, health care probably deserves
a better run. So to real estate, why do people
invest in real estate are a certain type of person?
Speaker 1 (04:05):
I reckon, I think real estate. That's a big claim
to make that right now.
Speaker 2 (04:11):
I mean it's huge industry real estate. So I don't
say that in a negative sense. I'm just I mean
you obviously took it that way, Michael, which is disappointing.
Speaker 1 (04:17):
It's because I'm a cynic. We've established this. It takes
a particularly what an optimistic kind of person? Do you think?
Speaker 2 (04:25):
Yes? Well, no, I just I mean, you've got to
be slightly optimistic to invest in any sector. Yeah, I
don't know one sector I find. I'm moving on from
that conversation Materials. You know there's seven hundred and seventy
three companies and materials Index, like all those tiny miners
and stuff like that. They might be worth a million
dollars list than the art sex you.
Speaker 1 (04:47):
I love how much you are scrambling now to get
away from the comments that you've made about property investors.
Speaker 2 (04:52):
This is it's probably I find how do you know
the difference between one commercial building and another? And I
know that it's just not my area of expertise, so
perhaps that's why I'm not very good at it.
Speaker 1 (05:05):
But I suppose it's like in mining stocks, how do
you know the difference between one patch of ground and another?
You use a geologist. He's a building geologist.
Speaker 2 (05:16):
Okay, give me five property companies.
Speaker 1 (05:20):
If you've got your own question that you would like
to send through to ask fear and greed, then please.
Speaker 2 (05:24):
Sure you can give five.
Speaker 1 (05:25):
Yeah, I can put around time. Come on, Look, there's
so much. I was going to say, goodman, because it's
my favorite.
Speaker 2 (05:32):
So you're worried you don't know where they are. No Center, Strickland, Vicinity,
GPT have back, Tartle Hall, Dexas stock beat me to Scockland.
Speaker 1 (05:41):
Y about lend Lea's one of my faves. Send your
questions on Through Fear and Greed dot com dot au
LinkedIn Instagram. Facebook has been a mess today, hasn't it, Sean? Anyway,
I hope you've learned something. Don't know whether you have
no okay, Thanks Sean.
Speaker 2 (05:58):
Thanks Michael, Michael Thoms.
Speaker 1 (06:00):
And then this is us fear and great
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