Big U.S. banks are in better shape than they have been in years, and yet they trade at levels last seen in 2011. Why Citi, JPMorgan, BofA, and Wells Fargo could move up 20% or more this year.
I hope our large underwater position in Citi (its the largest holding in the Fund) gets a bounce from this article. In a declining rate environment due to a weakening economy, it’s hard to get excited about banks other than assets at depressed prices. At least Citi gets marks for stealing away the coveted Costco account from American Express when it becomes the exclusive credit card provide for the best bricks and stick retailer in the world this June
Source: Time to Buy Bank Stocks