Today J.P Morgan come out with earning:down because of trading and government fines(over billion).Well Fargo profit up a bit because increase business in mortgages.Watching Bloomberg T.V and William Cohan was guest host:he wrote great book,"The Last Tycoons" about Lazard Freres & Company,also wrote not such a great on the Duke Rape scandal,he's racial marshmallow.Cohan is a smart guy,who spent six years at Lazard Freres and was a Managing Director at JP MOrgan before becoming a journalist.He said,banks are making a ton of money because the FED is giving money away and the banks are paying next to nothing for desposit,hence,the souce of inventory(in the case of banks it's money) and agree with Cohan.
I think money can be make in the energy sector,because droping oil prices I believe energy stocks are oversold.I believe energy companies that have a lot of cash in the balance sheet can weather the storm of low energy prices very nicely,hence,they are good long term investment.Remember the old Wall Street saying,"buy your straw hats in the winter time" buy stocks out of favor!
No comments:
Post a Comment