iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
17,711 Blog Posts

Wall Street is Minting Coin Again

New highs in the market’s means higher fees for asset managers, more ipo’s, secondaries, and of course earnings per share. I know you might think it’s a little late to buy into the sector, but only if you think the market is topping out. Some people I know have believed the market was going down for 15 years now. Through all of the negativity and depression, these persons have missed the boat, watched others get rich in their stead.

Don’t be that guy, the homosexual at the cocked-tail party who proclaims doom and gloom is upon us. Even if it were true, no one wants to hear it. Successful people are attracted to positivity. It’s too hard to get the short trade right for the average millionaire, whose sole interest is to outperform the S&P. If that’s your stated goal, look no further than the asset managers.

I still own GS from $138-$143. I sold out of WETF because I wanted to move up the ladder in market cap. Being that I had a 15% gain, I thought it was prudent to take profits and reduce risk.

There are several other names worth looking at in the space.

Regional brokerage: SF
National brokerage: GS, PRI, NMR, MS
Asset Managers: KKR, APO, WDR, OAK, PJC, FIG, CG, PFG, BLK, WETF and AB
Life Insurance: MFC, PRU

There is a whole litany of regional and money center banks who are benefiting from the great big US housing recovery. But I am not interested in any of that, from a banking standpoint. I am also not interested in serial underperformers, with hopes that investors will WAKE UP to its intrinsic value. No.

I am only interested in buying names that will outperform the overall market, without all of the fuss of having to endure an outlier. In my estimation, BX, APO, GS, OAK and MFC fit the bill, quite nicely.

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6 comments

  1. acehood

    OAK and FIG because you’ll find both in any esteemed and distinguished gentlemen’s club where men are equally dapper (no topped hat).

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  2. ruggyup

    Josh Brown has a way with words to match anyone. Yes, anyone.
    “The “Correction Camp” is now the world’s largest circlejerk as measured by circumference, according to Guinness.”

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  3. Belzile

    MFC are a bunch of homosexuals. They said on Thursday being hedged to rates and equities. Sentiment is very strong on the name so that alone can carry this sucker back to 18$.

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  4. TraderCaddy

    I was “volunteered” once to go to a cocked-tail party once.
    I ate the cocked tail weenies, the loxed mini bagels, the cheesed balls, and drank the juiced oranges (with vodka).
    Then I said bye to the hacked politicians running for office.

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    • TraderCaddy

      I meant to say “once” one time.
      Recovering from some minor eye surgery.
      I see everything now in HD.

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