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Jim Cramer Likes Citigroup and Wells Fargo for the Long Term

“The sentiment for the banks just got too negative vs. the reality, and the “free short” aspect got too easy.”

“If we didn’t have such mixed messages from President Trump and such indecision in Washington, then I think we would see a rather big run in bank stock, although you need better loan growth to have them really take off.”

“That said, these stocks are so inexpensive vs. the rest of the market.”

“Yes, they need two rate hikes. Yes, there is some weakness here and there in consumer lending. Yes, there is inefficiency at Wells Fargo – so bad that it was mentioned by management on the call.”

“I just have to say that if you think everything is too expensive, then you need to look at these stocks. Not for this moment, but for this year.”

Source: Bloomberg

Junior Trader Stefan Panteleev

 


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