I can hear the collective groan from here whenever I mention bank stocks.
Your grandma owns bank stocks.
What about the credit crisis? All the bank stocks blew up, didn’t they?
Banks are boring. Bankers are evil. The entire banking system is too hard to understand.
Talk about tech stocks that will change the world and do everything for me, so I can just sit in my comfortable chair watching virtual reality and my 90-inch-high resolution televisions set.
Talk about biotech companies that will cure everything by tomorrow afternoon.
That’s the exciting stuff.
I promise you that I will talk about all that stuff at some point in time, but it won’t be until the numbers tell me it’s time to talk about those things.
Right now, the numbers are telling me that the really exciting stuff is boring old banks at low PE ratios that have high dividend yields.