Ralph
16.01.2001, 16:33
..... das sagt zumindest James C. Cramer !
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Banks Look Good for Both Short- and Long-term Plays
By James J. Cramer
01/16/01 10:02 AM ET
Today, short-term and long-term attitudes combine in the banking world. The short-term is right in front of us,
staring at us, making us sick, if I can extrapolate from
the numbers I have seen. And it doesn't matter one bit.
Oh, sure, it would play a role at my old shop. Maybe we
would be rejoicing right now at a penny miss at Bank of New York (BK:NYSE - news - boards) because of a trading short, or we would be holding our breaths with this Citi (C:NYSE - news - boards) number. But longer-term, the best is yet to
come. That's how you should be thinking today. Remember, the Fed is cutting is because of weakness in the fourth quarter. Not everyone felt real weakness. Great companies like Bank of New York and Citigroup didn't feel it in particular.
However, the environment might very well have kept them from blowing numbers away.
So, we will parse through the short term and try to figure out what went wrong in the past. And then we will forget the past and remember that when the Fed eases this is THE group to be in. Don't let the near-term noise of these reports confuse you; if you stick with great lenders and processors, as these two are, you will make a ton of money. In case you disagree about the past not being prologue, hit up JP Morgan
(JPM:NYSE - news - boards)! This stock has roared since the time the former Chase folks came out and said that the venture capital gains would be slim. That was the moment to buy that great combination. I sense we might get a similar buy inflection point today in one of these financials.
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Ralph
<font size=1>[Dieser Beitrag wurde von Ralph am 16.01.2001 editiert.]</font>
***********************************************************
Banks Look Good for Both Short- and Long-term Plays
By James J. Cramer
01/16/01 10:02 AM ET
Today, short-term and long-term attitudes combine in the banking world. The short-term is right in front of us,
staring at us, making us sick, if I can extrapolate from
the numbers I have seen. And it doesn't matter one bit.
Oh, sure, it would play a role at my old shop. Maybe we
would be rejoicing right now at a penny miss at Bank of New York (BK:NYSE - news - boards) because of a trading short, or we would be holding our breaths with this Citi (C:NYSE - news - boards) number. But longer-term, the best is yet to
come. That's how you should be thinking today. Remember, the Fed is cutting is because of weakness in the fourth quarter. Not everyone felt real weakness. Great companies like Bank of New York and Citigroup didn't feel it in particular.
However, the environment might very well have kept them from blowing numbers away.
So, we will parse through the short term and try to figure out what went wrong in the past. And then we will forget the past and remember that when the Fed eases this is THE group to be in. Don't let the near-term noise of these reports confuse you; if you stick with great lenders and processors, as these two are, you will make a ton of money. In case you disagree about the past not being prologue, hit up JP Morgan
(JPM:NYSE - news - boards)! This stock has roared since the time the former Chase folks came out and said that the venture capital gains would be slim. That was the moment to buy that great combination. I sense we might get a similar buy inflection point today in one of these financials.
***********************************************************
Ralph
<font size=1>[Dieser Beitrag wurde von Ralph am 16.01.2001 editiert.]</font>