netscorer

When and Why We Bought the Financial Sector

to grs44: you assume a lot when you say that CEOs already cleaned their closets with current write downs. Yes, most of them are not risk takers, but try to find a more lying and manipulating group of people - you'd have a hard task. Banking sector got itself in huge trouble with boom of Derivatives Market without proper tools of evaluation and current mortgage meltdown is just a beginning of revalue of the underlying assets that drive that market. I agree with Jason that long-term financials are looking very attractive (and congrats on timing the market) but the next couple of years may be very ugly and The Bear Stearns disaster was not the last run on the bank we will see.