Still Bullish on Asian Banks
This article was originally published in the Market Insight Section of Street Insight on April 20. Originally posted on the Street Insight section of thestreet.com 4/21/2006 7:06 AM EST
Boatloads of imports mean lots of banking deposits, especially on the West Coast.
Asian banks are prime beneficiaries.
This basket of stocks is up 5% since March 1, and I remain bullish.
On February 28, I profiled five stocks in The Long/Short Investor as a long idea. Here is how the portfolio has done:
Still Bullish After Recent Rally I'm still bullish and think that these banks are a wonderful way to play the trade deficit. The portfolio is up 5% from March 1 through April 19. Below is a chart with the performance of each stock. As you can see, the biggest move lately was by East West Bancorp (EWBC). The stock jumped 8% recently after the company reported strong earnings, which Jordan Kahn noted on April 18.
William Michael Cunningham
- B.A. (Economics) , MBA (Finance), A.M. (Industrial Organization)
- Phone : +202-455-0430
- Email : firstname.lastname@example.org