Banking Plays: LT and ST Message Board

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Non-Tech : Banking Plays: LT and ST

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To: lazarre who wrote ()	11/1/1998 2:40:00 PM
From: Mark	Read Replies (2) of 32

Banking stocks are sound long term plays. The mergers/consolidations taking place within the industry will continue for the foreseeable future. Many smaller thrifts will get swallowed up over the next few years. Of course all you will read about are the mega-mergers That said, I sometimes believe that the best way to play this game is to buy a couple of mutual funds and let them ride. I have owned Invesco Financial Services Fund for many years, and the results have been excellent (at least, until sometime during July 1998). There are a couple of other funds worth owning, such as Fidelities Regional Banks Fund (caution - 3% load for some!!). In addition, John Hancock has a couple of closed end funds that trade on the NYSE. They are run by a fellow named Schmidt, who I had the pleasure of speaking with several years ago at a conference. He is very knowledgeable about the entire industry, and has an uncanny ability to spot smaller banks and thrifts that are "in play". Good Luck. Mark

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