thesession

Tax Rebates Helping Americans Pay Down Credit Card Debt

The amount receivables also went up. I know some of this can be explained, but should be noted.

"Aggregate outstanding principal receivables... increased $11.6 billion to $442.4 billion in May, which is the highest level recorded by the index, from $430.8 billion in April."

"Principal receivables had been trending up since the first quarter of 2006 reporting a year-over-year increase of approximately 11.5% for May"

Financials Offer Patient Bulls Many Opportunities

Don't forget the E in the P/E. These companies have almost no viable/ profitable businesses right now. I think prices need to go down further to reflect the future prospects of not generating nearly as much revenue and profit. I think almost all their businesses are shut down and will likely not come back anytime soon.

Financials Offer Patient Bulls Many Opportunities

I think you Need to focus on the future profits and revenues of the financial companies... which is fairly dead. Where are those going to come from? Who cares if price is down 50%. Earnings likely to be down even more and will be depressed for next several years. I think prices have to go down further to reflect that.

They are experiencing major hits to future earnings from vast majority of their businesses (with the exception of maybe brokerage and advisory business, most others are dead). That will hurt.