Is it okay to buy stocks of Banks right now?


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I am planning to invest in stocks. I was wondering if it is the right time to invest in banks since after the financial meltdown everything looks okay. Could you suggest which stocks are a good buy?


Answer (4):

Max M

ABSOLUTELY NOT! It's still a recession. Any economic news they hear, the bank stocks will go up and down so fast.

The stocks you want to focus on is consumer staples, consumer discretionary, and healthcare. These are DEFENSIVE stocks that will survive through good and bad times. Most of my positions are in these stocks. Some names include 3M, Procter & Gamble, Kimberly Clark, Exxon Mobil, Walmart, Costco. Everybody's got to eat and wipe their butts regardless of the state of economy. Many of these companies survived through the Great Depression.

That's the benefits. You can sleep at night knowing your money is doing well. There are NO guarantees that you won't lose money. It's just that these stocks are the best. They pay good dividends too.

Prof. CSB

In my opinion, there still is a lot of uncertainty with US banks, especially Citigroup. Having said that, the Bank of America (BAC) might be worth considering for a longer term hold, but C is only worth gambling (not investing).

Amonynous

A financial services and banking mutual fund is a smart place to put some money right now, they are all a little beaten up so they are (generally) cheap, and unless you believe we won't be using money two or three decades from now they HAVE to recover at some point!

?

yes banks are very unstable, but have potential for big gains, and loss as in all stock, i play C for dips i dont see it as gambling but as historical trends that make me money, its a fast trade mostly within the samw week mabye 2 weeks top look at the trends buy in low, wait for news and volume to watch it go up


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