bearfund

Barron's Goes Bullish on Banks, Again

There are only a handful of really good banks out there, WFC and USB among them. But those are not the companies available below book and 8x earnings. In fact both are expensive again. They were good buys at 21 on Tuesday but the upside is gone now. As we've seen time and again, once Buffett is in a name you can forget making any money investing in it; investors make all their money when they buy and "Buffett stocks" are always expensive. The best we get now are a few great trading opportunities like we had last week.

As for the rest of the banks, go ahead and take this "once in a generation" opportunity. Be sure to get the certificates and frame them; that stuff might fetch a decent price on eBay later on.