Good News/Bad News: Bank Valuations Historically Low
Bank valuations in July 2020 are at 30-year lows. Long-term investors should view the industry's current low Price to Tangible Book valuation as compelling reason to own quality banks. Chart 1 updates a key chart in my August 2019 Seeking Alpha article about Warren Buffett's case for owning bank stocks.
Chart 1
Consensus Negative: Too Much Uncertainty
Going into the most important earnings quarter in recent history, a hazy fog of uncertainty hangs over the crystal balls used by analysts to forecast earnings and future dividends. The wide