http://blog.canadianbusiness.com/us-financial-stocks/ Fri, 20 Nov 2009 07:52:10 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://blog.canadianbusiness.com/us-financial-stocks/comment-page-1/#comment-24010 Canadian Business Blog » Blog Archive » Not all banks to be avoided Mon, 25 May 2009 13:07:34 +0000 http://blog.canadianbusiness.com/?p=1907#comment-24010 [...] is not as negative on the current rally in bank stocks. When he coined the DROP principle during a previous rally, he “was trying to alert unitholders [...] [...] is not as negative on the current rally in bank stocks. When he coined the DROP principle during a previous rally, he “was trying to alert unitholders [...]

]]> http://blog.canadianbusiness.com/us-financial-stocks/comment-page-1/#comment-19674 John Gan Thu, 07 May 2009 03:46:55 +0000 http://blog.canadianbusiness.com/?p=1907#comment-19674 Regardless of one's personal views about the evils of bank CEOs and the American financial system, the only way to make money in the financial sector is to join them in their game. There is no doubt the banks are only out for themselves. As an example, I had to go to my TD Bank and pratically threaten my banker so that she will roll back the interest rate on my line of credit which was increased for no reason other than to rip off the unsuspecting customers. That's why banks will make record profits as the spread between their cost of funds and what they can charge their customers has never been this good. It's practically a licence to print money. And even as they contine to write off their bad investments, they will continue to make record profits which will over time revitalize their balance sheet. That's why bank stocks as a group are up. And there has been daily opportunities to get in on financials since early March. That's the only way to recoupe some of the losses of the past year. I made the mistake of listening to experts who were scaring the public from buying financial stocks. The real evil and corruption I believe is that these media commentators have cost me lots of money; I sold too early my financial stocks which as you have illustrated have gone up a few hundred percent over the last 2 months. If one does not invest in financials for the reasons you outlined, we will be left with fewer sectors to invest in and fewer opportunities to recover our losses. Regardless of one’s personal views about the evils of bank CEOs and the American financial system, the only way to make money in the financial sector is to join them in their game. There is no doubt the banks are only out for themselves. As an example, I had to go to my TD Bank and pratically threaten my banker so that she will roll back the interest rate on my line of credit which was increased for no reason other than to rip off the unsuspecting customers. That’s why banks will make record profits as the spread between their cost of funds and what they can charge their customers has never been this good. It’s practically a licence to print money. And even as they contine to write off their bad investments, they will continue to make record profits which will over time revitalize their balance sheet. That’s why bank stocks as a group are up. And there has been daily opportunities to get in on financials since early March. That’s the only way to recoupe some of the losses of the past year. I made the mistake of listening to experts who were scaring the public from buying financial stocks. The real evil and corruption I believe is that these media commentators have cost me lots of money; I sold too early my financial stocks which as you have illustrated have gone up a few hundred percent over the last 2 months. If one does not invest in financials for the reasons you outlined, we will be left with fewer sectors to invest in and fewer opportunities to recover our losses.

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