Whoa, Major Bear Bill Fleckenstein Likes The Bank Stocks

Bill Fleckenstein

Photo: Bloomberg

The selloff in banks is overdone says Bill Fleckenstein, the famously contrarion bear.Phil Pearlman picks up a fantastic nugget from his latest daily column:

    As someone who has always hated financial companies because their financial statements are such a joke, I’m going to risk looking really stupid. I think the drama over US banks is overdone. Europe is a disaster, I get that, but we aren’t nearly as bad off. I think that lots of people who didn’t see 2008 coming are now sure they will see a replay. I’m not so sure. If the ECB starts to print finally, we will see an absolutely hellacious rally.

A hellicious rally. That sounds big.

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