From The Guru Investor:
Morningstar domestic stock fund manager of the year Bruce Berkowitz is standing by his big bet on beaten-down financials, and recently explained why on Consuelo Mack’s WealthTrack.
Berkowitz says that, having been incredibly scrutinized in recent years, financials now have strong balance sheets and excellent earnings power — and are trading at extremely cheap valuations. He says enough time has passed since...
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