The Worst of the Worst
Monday, July 18, 2011 at 10:40AM It is well known that the bank stocks have been the worst performers in the equity market recently, and Bank of America (BAC) has been among the worst of the worst. In fact, BAC is one of only three stocks in the KBW Bank Index that is currently closer to its financial crisis low than it is to its recovery high. The other two stocks are Northern Trust (NTRS), which became a symbol of how Wall Street was out of touch when the company sponsored a golf tournament shortly after receiving TARP money in early 2009, and People's United (PBCT). It has certainly been a tough several months for investors with heavy exposure to the Financial sector, but for investors in these names, it has been especially painful.
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