Millions are still out of work and losing their homes while Wall Street celebrates its rebound with bonuses and a return to profitability. It’s frustrating, but it does present ETF opportunities.
On the one hand, unemployment rates remain elevated, companies continue to implement lean measures and overall consumer confidence is down. On the other hand, the largest four investment banks have earned $22.6 billion so far this year, recovering much faster than anyone had envisioned they would.
Two reasons behind Wall Street’s success this year are the demise of several firms, leaving only the fittest around, and low interest rates, which makes borrowing relatively cheap, states Walter Hamilton of The Los Angeles Times.
How can you go about dusting