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Winter is coming for the ASX. Macquarie has 10 stocks to stay warm

With Australia’s sharemarket trading at a stretched valuation, investors are being warned they are vulnerable to companies where earnings momentum is heading south. There are plenty of candidates.

Another day, another record for Commonwealth Bank shares.

The warm glow of the ceasefire in the Middle East may have faded, but our “magnificent one” just keeps grinding higher. CBA accounts for 12.4 per cent of the ASX 200 and its baffling, logic-defying run – up 48 per cent in the past year – shows no signs of slowing.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/macquarie-s-10-stocks-for-dodging-the-asx-s-big-winter-risk-20250625-p5ma7r