Banks--- Betting on the recovery Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Banks--- Betting on the recovery

WFC 87.12

-0.3%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: tejek	5/27/2011 3:12:34 PM
	of 1428

I know lot of you don't like Cramer but I thought it important to note that this is the first time he's made a bullish comment on the banks during the past year. Time to Put Your Money in the Banks? By Jim Cramer RealMoney Columnist 5/27/2011 2:46 PM EDT What do I do? Someone I totally respect, someone who has been relentlessly negative on the banks, who has nailed them nine ways to Sunday and recognized that they were all shorts -- that's right, all shorts -- has covered, And is buying. Buying! Why? Because the returns are finally going to be there at a time when no one likes them. Because the pre-provisioning revenue is going to be growing. Because they will be able to get a return on lending and they want to lend. Because they are the most-hated and the most-underowned that they have ever been. Everyone who thought they would have already bottomed has given up on them. So what gets them moving? We may have to wait until the next quarter's reports. Or we may just get a break and the most aggressive regulator of banks, Elizabeth Warren, may not get the job. She will be so pro-consumer that they can't get that return. We may also have a big agreement among the states' attorneys general, the feds and the banks themselves. I don't know when they can take off. But for the first time in months, we became a buyer of banks not a seller for Action Alerts PLUS. Sometimes the most important thing that you need to know is the person who was most negative and most right has turned and has good reasons to do so. We are taking that cue and running with it. Random musings: Here's wishing everyone a terrific Memorial Day weekend. Back at you next week.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next