Banks investors by and large don't know what they were doing. I also do not understand how EXACTLY they function. But banks are getting safer. I only wished they were cheaper otherwise the margin of safety is just too tiny.
What do you need to know? They are not going to get killed. The government would destroy you before them. Society continues to judge them but aren't they already looking attractive a while back? The evidence is that the hard knocks they gotten from regulators are priced in. Huge fines without crashing their stock price.
I don't know what I am talking about. I am still working through this. Know the cycle. In a way depending on your end point, these are early days.
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