Banks, brokerages and insurance companies tracked by the S&P 500 Financials Index needed 12 years to make the round trip, which required a sixfold increase starting on March 6, 2009. They’re the last industry in the S&P 500 to erase their 2008-era decline.
“What a long, strange trip it’s been,” said Kim Forrest, chief investment officer at Bokeh Capital Management in Pittsburgh. “The existing banks — because there’s a whole lot less banks than there were in 2007 — have survived and changed in meaningful ways, that’s what this reflects. They’ve shoehorned themselves into this low new interest rate environment.”
The crisis hasn't ended in the US! QE simply numbed the pain without really dealing with the cause hence they and the world by extension are on the verge of a massive one. Unlike in 2008/2009 this time SA will be hugely affected!!!
is this DM trying to make an excuse for Cyril. pathetic!
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