Seems like a great time to pick up a bargain in Financial Services. Bank of America bought Merrill Lynch this week for $USD 50 billion and now there are talks of Lloyds TSB merging with HBOS – wow! Currently, the market values HBOS at £10 billion after shares dropped 51%.
Markets always bounce back, now is a good time to invest. If you have the money.
Fred has some interesting advice for the brains behind the number crunching at investment banks – join a startup in NYC. Or move to California, the weather is better there.