First of all, I feel like I know the banking industry pretty well. I certainly know how to grow the business and manage the balance sheet at all stages of the interest rate cycle.
I have served as CFO of small public and private banks. I recently described my bullish banking investment strategy to a friend who in a senior management position with a very large bank. I was hoping for him to confirm my conclusions about the industry's current overall condition. Rather than congratulate me on how much money I have made over the last five or so weeks, he simply said "Be Careful". He did not have to say anything else.