John Lounsbury
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The Problematic Banks [View article]
Your bottom up micro analysis of banks and my 10,000 foot macro analysis are quite well aligned. Either a lot of the rest of the world is wrong or we have been smoking hallucinagens. I answered a the question: "Why are banks stocks still rising?" in an article on TheStreet.com last week with this: "It is a melt up, trying to regain the steep losses going to the March 9 bottom."
When a significant correction comes (September? October? Both?), the banks should be the biggest losers because their stock gains are the least deserved of any sector.
Keep grinding those numbers Reggie. It will pay off.