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  • ph.d_economics ph.d_economics Aug 15, 2008 2:27 PM Flag

    Simple solution for banks longs---don't sell

     

    yes the banks are fucked, and have been, we know that. Short term it seems they may have another dip.


    But sooner or later you have to start thinking long term.



    Eventually, all of the stock market money will shift into financials and they will be the new in thing for several years. Right now the money is leaving the commodity and emerging markets stocks. Where do you think that money is headed? Financials. Tell the average person on the street you are now buying financials and they will look at you like you are crazy. That is exactly the time to buy.





    I'm in now and not selling until the end of when that happens.



    Longs must realize that if they are diversified in the financials, it is the best place to be long term. But do not pick and choose which ones will go bankrupt and put all your money in one financial stock. Bad idea.


    Hold for 3 or 4 years and you'll have 15-20% per year returns at the least.


    IT WILL BE A BUMPY RIDE. ENJOY.


    I bought XLF today.

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