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March 17, 2008
Action in Financials Today
Interesting that, at least in the early going, JPMorgan, despite uncertainty over its Bear buy, has been the only material gainer among financials. Here is a live look via Google Spreadsheets:
Looking at this another way, you could argue that, for the first time in a while, down-market correlations are changing. Rather than everyone being treated the same -- good financials and bad financials alike -- we have mutated to more of name-specific risk, the idea that some companies are worse than others. While that might not seem like much, it is progress as this crisis unwinds.
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