Great article. Agree almost 100%.
I don't agree that financials - especially big diversified money centers - are bad at this point. Would I put 100% of my portfolio in C right now? Well, you shouldn't put 100% of your anything in anything unless it is the entire market. But the risk reward on a lot of the financials at this point is pretty good. Remember, you buy them on a valuation - PE basis. A lot of those stocks are trading below - in some cases - way below - book value.
When it looks the scariest is usually the best time to be buying. When it seems like a monkey could make money buying stocks, it is usually a good idea to sell your stocks to the monkey.
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可你住在有趣的时代 - May you live in interesting times.
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