Posted AT 6:00 AM EST on 13/08/08
Hold off on jumping back into financials
Think of yesterday as a not-so-gentle reminder to investors who have been lured back to the financial sector by bargain-basement prices: These things became cheap
for a reason.
After picking themselves up off the canvas in recent weeks, financial stocks were rocked once again by several blows of bad news that brought back into focus the deep credit crunch-driven turmoil that persists in the sector.
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