What’s everyone’s take on financials right now? I’ve worked for the same bank for the past 14 years and have been stockpiling shares over the years. A few years ago I diversified away but still ended up skewing my portfolio towards other financials, because well I love them and they are simply money making machines.
In addition to my own company’s stock I have a good chunk in Visa and recently bought BofA. Overall financials weighting is prob close to 25% if not higher and that doesn’t include my pension and my job/future earnings with a bank.
Long story short I’m fearful of where this ends up. I think Visa is well positioned but in general banks face significant risk in this environment. Or maybe the Covid crisis ends in a soft landing and I’m just naturally bearish.
Banks have gotten hit hard but other industries have bit hit harder. If you believe in the soft landing theory there are some screaming buys right now. Black Swan actually posted a few names in the apocalyptic thread that have had a nice run since with more runway to go. Hate to miss out in a time like this.
Rambling now and getting off topic so I’ll stop talking. Thoughts?