The Panic of 2016 will prove to be an extremely compelling case study when it is in the history books. It seems as though many market participants are breaking out the 2008 Great Recession playbook, despite a global economic climate that could scarcely be more different. Congruent with that playbook, well financed and profitable financial institutions trade at fractions of their net asset values.
Perhaps this will be a rational move and unemployment will double to 10% due to a hard landing in China and the already understood depression in the commodities sector; or more likely, market participants are overly pessimistic and reactionary, creating an absolutely phenomenal buying opportunity. CIT (NYSE:CIT) is a company that is on the
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