We might be near a bottom but we dont know what will make it to the other side. Relative to GDP the US bank stocks are at their 1992 lows, Australian banks are still about 30% above that. This compares with the 29 to 32 decline but 11,000 financial institutions went under. They went to zero. The exception is the action of the government under a fiat system is to keep them all afloat and they can only do that by direct monetary inflation.
So why bother bottom picking the banks when you should be buying gold and gold stocks? The market always lets you in and there will be a time to make money from bank stocks but in speculative terms this isnt it.
