Image via Jason Baker/Flickr
I placed holds on our banks
stocks while I waited for signs of a turnaround. It now appears that a new leg
up for the banks is getting started, and it’s time to begin buying them again,
asserts
Jim Powell, editor of Global Changes & Opportunities
Report
.
Although I don’t expect to see the explosive profits that
came when the economic recovery got underway, I think long-term investors can
expect to see doubles and better.
I think the most attractive big bank
right now is
Morgan Stanley (MS). Unlike its rivals, Morgan
Stanley outperformed its second quarter earnings estimates in all its divisions — and set records in wealth
management, one of the
brightest stars in global banking today.
Although not all the bank’s businesses made gains, those
that slipped did less so than expected. For example, Morgan Stanley’s fixed
income trading fell 4% vs. as much as 19% at
JPMorgan Chase (JPM).
Morgan Stanley’s operations mirror those of its
competitors. The bank provides a variety of financial services to corporations,
governments, and other banks throughout the world.
What sets Morgan Stanley apart from its rivals is the company’s management made faster, and better, changes to the bank’s operations to benefit from the new trends in financial services.
As you can see from its stock chart, Morgan Stanley took a hit from mid-2015 to early 2016 — as did most other banks. However, MS recovered faster than the others and is still moving up. I think Morgan Stanley will be a good performer for long-term investors.
If you don’t yet own a major bank stock, or you wish to increase your position in the industry, I think you should consider buying Morgan Stanley.
Jim Powell is the principal analyst for the popular Global Changes & Opportunities Report.
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About MoneyShow.com: Founded in 1981, MoneyShow is a privately held financial media company headquartered in Sarasota, Florida. As a global network of investing and trading education, MoneyShow presents an extensive agenda of live and online events that attract over 75,000 investors, traders and financial advisors around the world.
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