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Why I Bought Financials (Despite the Mess)

Huh? The rising tide lifted the financial???

Yesterday's "oversold bounce" (as you call it) was driven by financials! In fact, every market summary I've read about yesterday's broad market gains credits the banking sector for lifting the market, not the other way around. So it's hard for me to pay attention to the rest of your post (correct or not) when the first sentence is the exact opposite of what actually happened.

On Jul 17 07:11 AM buyitcheap wrote:

> This is an oversold bounce - and in this case a rising tide is going
> to lift even the financials.
Jul 17 11:06 am |Rating: 0 0 |Link to Comment |View article
Why I Bought Financials (Despite the Mess)

An interesting point on financials is that, after this crisis is over, they won't be able to make money as they have been the past 10 years -- no more crazy derivative products or easy originating of mortgages.
Jul 16 09:18 am |Rating: 0 0 |Link to Comment |View article
Why I Bought Financials (Despite the Mess)

"Buy strength on dips not weakness-"?
Wow, so if I do this, will I get rich? How do I do that?

Even if financials still have a way to fall (as my gut tells me they do), anything close to dollar-cost-averaging into this very discounted market makes long term INVESTING sense (perhaps the bashers are all short-term traders, or think they can call the bottom). I'm amazed how many of you think you are so much smarter than Benjamin Graham. I also wonder how many of you would have been smart enough to say not to buy financials a year ago, when they were triple the price?
Jul 15 09:50 am |Rating: 0 0 |Link to Comment |View article

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