So I was reading this article in the Business Times.
It talked about how UOB reported record net interest income this week – and yet share price fell 4.5%.
It then went on to say that analysts continued to hold a “buy recommendation” on UOB stock.
This got me thinking.
Everybody seems to think the banks are a good buy these days.
I mean, interest rates are going up, so banks make more money on their lending. Therefore banks are a good buy right?
When everyone thinks a stock is a good buy…
But if there’s anything I’ve learned from my time in investing – it is that when everyone thinks something is a “good” and “safe” buy, it usually is anything but.
Most of my best investments were made when few thought it was a good idea.
When it made me nervous to the pit of my stomach to pull the buy trigger.
Think oil in April...