Well, it is very difficult to really assess the quality of earnings of banks. But I am told by experts here in the U.S. that the auditors have become very, very tough and that banks basically are at their lows recently. JPMorgan was at less than 27 USD per share. That 27 USD now is 32 USD.
And at their lows, basically the banks were selling below book value. So some people say that American banks are actually a very good investment opportunity at the present depressed level. - in Bloomberg
Stocks: JP Morgan (JPM), Citigroup (C), Bank Of America (BAC), Wells Fargo (WFC)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
