From yesterday on @realmoney @WilfredFrost @andrewrsorkin @beckyquick
Jan 14, 2021 | 07:50 AM EST DOUG KASS
The Easy Money Has Been Made in Banks
* The setup into the current reporting period is poor

* With bank stocks elevated, in-line to slightly lower reports, relative to

consensus expectations, could modestly disappoint traders and investors - particularly if my market concerns pan out

* Consider hedging bank stocks or writing calls against positions now

There was near a universal view that bank stocks were unattractive in March-April last

year.

When the ($XLF) was about $21, and I was buying, it was over $31.50 in pre-market trading, one analyst on our site said it was patently foolish to expect a rally in the sector. As to leading the market it was next to unimaginable to that observer.

A well-known

commentator on CNBC said banks were uninvestable because of some vague theory and narrative that they have permanently lost their competitive advantage. (He is now long!)

Others have just wobbled back and forth without any conviction.

I spent months in my Diary, in the media

and in speeches, outlining the merits - both short and long term - of the banking industry and stocks. I am sure, as the stocks traded near their lows, many were fed up with my own theories on the banking industry's attraction.

The rest is history.

Of late, bank stocks have