Updated: December 7, 2015
You can take it to the bank: the zero-interest rate era will soon be dead.
That’s bad news if you have a hefty credit card balance, but it’s terrific if you invest in bank stocks. And now is a great time to do so.
That’s not just my opinion. Some of the country’s smartest investors—including Warren Buffett himself (see below)—share it. They’ve bulked up their bank holdings lately, and it doesn’t take a stock-market genius to connect that to a rate hike the market sees as 78% certain at the Federal Reserve’s December 16 meeting.
Let’s be honest, a one-off, quarter-point increase won’t mean much for bank profits.… Read more