why would anybody financials?It is the worst sector and we are in a bear market. GS especially.At 150 it has a long fall with any bad news.
guess it depends. If you are a long term investor I think its quite safe to invest there now. Americans will need brokers and banks also during the next 20 years... I like to buy into sectors which are hated by the public and buy the strongest stocks there. Allianz could be one of the winners from AIG collaps for example. But I think AIG will be taken over anyway, they will not go bankrupt.
I think that is exercising temptation not prudence...Although bottom fishing quality names is fine sometimes,combine worst sector and bear market and i would think there are safer opportunities. Look at GE...It is a safe stock but this contagion looks like it spreading to GE. I wouldnt be surprised to see GE get chopped up good.The psychology of the market is bad and not in a contrarian sense either.Just really bad.