Does This Look Like a Bull Market?

Banks are the epicenter of any economic cycle. Stop pretending they don’t mean anything. I beseech you to remember the lessons of 2008.

Year to Date returns for choice financials

LC -61%
RBS -53%
FXCM -51%
CS -50%
DB -48%
LPLA -46%
BCS -44%
JLL -42%
WDR -42%
WETF -39%
LYG -38%
NMR -38%
GHL -37%
AEG -36%
VOYA -36%
SC -36%
VRTS -35%
MTG -35%
GNW -34%
FDC -33%
LFC -32%
MTU -31%
PUK -30%

Major Indices

Germany -12.3%
France -11%
England +4%
Spain -16%
Italy -28%
Switzerland -10%
China -16%
Hong Kong -6%

America +2.6%

And this is what you get excited about? Really? Buyer beware.