Will benefit if indeed the capital markets business is back, as GS says. Their overhang is their wealth management business, their strongest business, which the SEC is examining. Will listen to the CEO's call about capital markets and backlog. The large banks should do well, not the regionals which look uncertain. It reports tomorrow.
Was upgraded today. Customers are cutting budgets short term, but a company can't have AI without investing. Cisco will come out with AI-specific products. So, focus on their long term. Short term is not great at 2% earnings growth then 6% in 2025 then 2026. Trades at 13x PE. She will hold it forever.
Reported a good quarter this morning, so he bought more shares. GS is back, doing what they do best which is investment banking and the capital markets. They were paring back businesses last year and were less successfully. ROE is double in 2024 over last to 14.7%. They beat fixed-income revenues and equity trading revenue. They hit it out of the park. Is the top U.S. bank.