These stocks can arise from the ashes of economic turmoil
Is it time to buy yet? The values certainly are out there, but going long is frightening when every day brings another piece of bad news. Nowhere is this dilemma more pronounced than in the financial sector, where stocks have been obliterated thus far in August. As of Friday’s close, the Financial Select Sector SPDR ETF (NYSE:XLF) was off 18% since July 31, which compares with a loss of about 13% for the broader market.
Look to the Leaders
The case for JPM, WFC and GS