Of Banks and Men

OK, a literature student I was not but Dickens' immortal words ring true for banks (yeah, I know, the title was from Steinbeck).

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness....."

Sounds likes banks to me. Goldman Sachs soared while 53 of its tiny brethren failed this year to date. And now, after at 150% rally this year and more if you go back to the November low the street goes wild when an analyst upgrades it. Uh, thanks for nothing. Where were you when it was an actual low in progress?

I am sure she knows her stuff. But fundamental analysis was never any good for timing so I say welcome to capitulation. Earnings better be beyond the whisper numbers or Goldman stock cracks.