SOFI - Tech Titans Aren't The Only Game In Town Consider Biotech And Yes Financials
2023-05-14 21:08:03 ET
Summary
- The Regional Bank Fiasco is a classic “Baby with the Bathwater” scenario. Rising rates are great for Insurance companies and “hidden banks”.
- Since ETFs are a very popular way to participate in the market, whole sectors are being pressured. In this case, non-bank financials.
- The pain trade is still staying long, just look for niche opportunities. To me, Biotech/Pharma is the most bullish sector, while financials are the least. They both have interesting opportunities.
- We could be in for some volatility as we approach the default deadline. It could be soon if June 1 is the real D-Day. I doubt that it is so. Yellen is just doing her duty as Treasury Secretary to get the ceiling raised.
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Tech Titans Aren't The Only Game In Town, Consider Biotech And, Yes, Financials