Joe

Financial Stocks: Where Will They Go Once Investors Sober Up?

To some extent banks, etc. were functioning like casinos, to some
extent geared only to something like gambling. Out of touch with the
actual commercial / producing world.
Visitors to casinos are said to arrive with $ 100 and leave it with
$ 60, 40& thus lost. That is the average casino calculation, it could
be even higher.
If one takes a look at "assets under management" in banks balance
sheets one gets sometimes a rough idea how the casino worked,
at what percentage, so to speak. I would suggest to have a look
at UBS, to name just one example for an idea how their wealthy
clients were doing. And yes, in the long it is possible that people
are sobering up. In the long run, depending on the learning curve.