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Hello Crazy Critters,
Let's have a look at the UK banks. Now they make up an awful lot of the Footsie, so it's always worth trying to keep up to date.
We all know the banks have been having a hard time of it. Not so many months ago Barclays (BARC), for example, was above the £8 mark and its now quite a lot less than £6.
A few banks have done even worse than this - and I'm not just talking about the poor old Northern Rock (NRK). A few, like Lloyds TSB (LLOY), have not decayed quite so badly, but they've not performed brilliantly, either.
But the big question is: will the banks now recover? I think so - and I have quite a few sponduliks in them to prove it.
Many of you don't agree, I know. (We all know I am a flaming optimist and many Crazies are a bit more pessimistic than I.)
But that's happen as maybe. And here are my reasons to expect a bank recovery.
1) The world's money authorities, including the Bank of England, are making huge amounts available to banks to lend and hopefully abort the credit crunch.
2) The banks don't just make money out of mortgages.
3) Barclays has already said it will make record profits next time round.
4) Banks are usually very good at turning round disasters.
5) Share shifters still, no matter what has happened, trust UK banks, because they've hardly let them down before.
6) Bank share prices have already started to notch up.
If I had time, I could probably think of a few more reasons, but the Punter's Return has just opened. Rock on!
To find out more about Malcolm CLICK HERE
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