Professional bear Bill Fleckenstein turns bullish on banks. "I'm going to risk looking really...

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Mike Renshaw Comments (4)
 
He made that statement in his “Daily Rap” on Tuesday, and then hedged a bit in his Q&A on Wednesday. I would not call him bullish on banks at all, he just think that most market commentators are too bearish. To quote:

Question: "The drama over the U.S. Banks is overdone." That is the nicest thing you have said about financials in 5 years! I actually agree with you. Any chance you will buy any? I don't know much about the really big banks, but the regional banks that I know of are doing just fine. I started buying some last week and I think a couple years from now they will have done very well. We'll see if we both look stupid.

Fleckenstein: You are correct, it is the nicest thing I've said about them in 20 years, BUT NO, I will not buy them -- they are still black holes.
6 Oct 2011, 10:45 AM Reply Like

Drew Robertson Comments (233)
 
Well someone is buying the banks now.....bigtime. http://bit.ly/rupBLE
6 Oct 2011, 11:54 AM Reply Like

User 487974 Comments (1105)
 
This is bull crap!
You have civil war starting with the communist Van Jones led "Days of Rage" and End Capitalism "Collapse the System" and now all is well with the banks?
Bill, I don't know what you started smokin',but damn man that must be some serious sh**!
Jerry
6 Oct 2011, 02:04 PM Reply Like