To Josh Brown - Totally and respectfully disagree.
To begin with, banks have extraordinary low/zero cost deposit bases (trillion dollar gain y/o/y) that will increase in value dramatically as interest rates inevitably rise. The largest banks, like $JPM,
To begin with, banks have extraordinary low/zero cost deposit bases (trillion dollar gain y/o/y) that will increase in value dramatically as interest rates inevitably rise. The largest banks, like $JPM,
have spent many billions of dollars to advance their technological advantage. They are benefitting from market share gains from non US (esp. European banks) who are the "walking dead." Despite record provisioning and zero interest rates, the large banks will increase
their tangible net worth this year over 2019. Banks have large excess capital positions, historically high liquidity - in the fullness of time they will be able to buyback stock (accretively). Many more reasons - just touched the iceberg. @WilfredFrost @saraeisen
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