Should You Invest in the Financial Services Sector?
When it comes to investing, banks are where the money is.
When Willie Sutton, the legendary 20th-century bank robber, was asked why he robbed banks, he supposedly quipped, "Because that's where the money is." Today, some smart portfolio managers agree. Ken Mertz, portfolio manager of the Forward/ Emerald Banking & Finance Fund, is one of them.
When the financial services sector is hot, it can sizzle. It includes everything from commercial and community banks to insurance and mutual fund companies, all arms and legs of the brokerage business, real estate investment trusts, and anywhere else money can be harvested. When money is cheap and the economy is responding, as it has been over the past few years, there are many opportunities for fee income in this sector.
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