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January 14, 2008

Kass on the Financials: Buy

Doug Kass of TheStreet's piece today on the financials is a must-read. He makes a strong case for why they have currently bottomed, and their capital is being replenished. While news headlines will be nasty for some time yet on the sector (Citi was top-of-page on Drudge for a while this morning), we are, Doug argues, well into the fix-'em-up stage, with better management replacing weak counterparts, etc.

And here's Drudge providing a headline-based data-point for financial contrarians today.

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