I think you need to be selective in terms of the commercial banks. We've done a lot of studies in terms of credit quality in trying to figure out which ones really are at risk and which ones aren't. And I think that some of them are overly discounted at this point, like Chase Manhattan, Bank of America and Wells Fargo,
More Quotes from Andrew Collins:
I just did my routine. I'm a crank bowler. I don't put my thumb in, I just throw the ball outside and hope it hits the pocket.Andrew Collins
From here on in we can start looking at some of the bank stocks (as targets), because investment banks are going to start looking at banks going in the reverse direction. Everybody wants to be a one-stop shop.
Andrew Collins
We're looking at a pretty favorable environment for bank stocks, and financials in general, over the next three-to-six months. But what I would say is that there's still a little bit of an overhang in terms of the commercial banking sector, due to credit quality concerns. So that's going to weigh heavily on the banks. But we could see growth in some of the other areas. Brokerage continues to be very strong.
Andrew Collins
They essentially lined up a really excellent group of heavy hitters to bolster their existing management.
Andrew Collins
I think that investors, particularly in the financial sector, will cease focusing on interest rates, if they haven't already, and will increasingly focus on credit quality, ... But I think that if the economy continues to chug along, say at a 2-to-3 percent growth level, we won't see that impact credit quality in any meaningful way.
Andrew Collins
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