I own a lot of bank and investment bank stocks plus Amex, visa and sofi. All have have an annualized return of over 50% and a third over 100%. Well by all, I mean all but one. Visa has sucked, oh wait if I lump PayPal in there to, it’s very suckie. My annualized return on visa is -1% give or take. PayPal is like -20%. But pretty insignificant compared to overall gains.
But as I looks through my investment notes, it clear. $Citigroup(C)$ was a no brainer. And old fashioned value stock when I brought it. David Dodd would be proud. It was trading at around half of its break up value when I brought it. You never find stocks like that these days. But find it I did.
I brought ALOt of different bank stocks during the “banking crisis” around two years ago. And with the exception of two, all have performed exceptionally.
But this article has prompted me to re evaluate my position in these stocks.
They are all still long term holds. But I think their run is done for now. So I think I will trim.