Most people would rather die than think: many do - B Russell
well, any buys on your mind? Thinking GNW. anything new w BBRY? a buy under $15?
PKX looks interesting but if China slows down like Prem Watsa is saying, surely PKX will get hit.
No, I still feel the US financials are cheap but I am not buying anymore at this time. BBRY is likely on the cheap side but I already own some via FFH. Prem Watsa has a much better perspective from being on the BOD. Nearly all of my 2013 recommendations have shot to the moon this year, up on average 28% and the honorable mentions up 37%. A couple of the honorable mentions, namely HPQ and ABFS have gone up 70% and 85% respectively. The S&P 500 is up 16% YTD.That said, the market is fairly valued and I am more than willing to be patient and wait for a correction. It will come. If I were to buy anything today it would be FFH or SPY puts.
Do you think there will be a correction in US financials?
That is the 64 dollar question. It all depends on the health of the US economy. Another leg down in the housing market would cause more losses at the banks. That said, they are very well capitalized and two to three years from now these valuation will appear very cheap, IMO. I don't try to predict the short term.