Banking is on the mend

 

 

The Humungus is buying banking. With all the crashing an burning and stress tests and derivatives of derivatives fun behind us, it looks like the bottom is behind us (yeah I know, I'd post a pic here, but I don't wanna get on Joan's watch list).
We're looking at nice, stable, banks. We're starting with NYCB. That's right, New York Community Bank, deep in the heart of Wall Street Capitalistswinegreedville.

They ain't the sexiest growth story, but they pay $0.25/share/quarter like clockwork. That's over 6% return at today's prices.



With valuations at all time highs (with a little bubble action in small cap and biotech and social media - H/T Janet) and headed toward

{{Hold me, Shaggy}} October, we'll take the money and run. Like spooksville, man.

NYCB reports earnings Wednesday and go ex-div August 5th. We're puttin' this sucker on autopilot while I find a place to go and be surly.

You're welcome.