Hate to say it but financial stocks are not sector to be in currently. For many years banks/financials have enjoyed great returns for shareholders but overseas problems do have an impact on how buyers view banks going forward. The resource sector /ag sector have moved into the limelight for many investors & fund managers. How many fund managers knew of IPL 12 months ago, yet now they may be required to hold stock if they are balancing their portfolios to reflect ASX weightings. Many holders of financial stocks will just sit & wait, while the real money is being made in other sectors. It may be sometime before there is a rotation to banks again. Think investors want to know the banks have strong assets in their balance sheets, more than just reporting profits going forward.
Regards
Buffett
three year low at the moment, page-7
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