Mike Mayo, Wells Fargo Securities, joins ‘Closing Bell: Overtime’ to discuss bank stocks and their potential to grow during a recession….(read more)
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As the economy continues to fluctuate, many investors are wondering how banks will fare in the midst of a potential recession. However, industry expert Mike Mayo of Wells Fargo argues that banks should actually be focusing on growing earnings during this time.
Mayo suggests that banks should take a more proactive approach to managing their operations during a downturn. This could include cutting costs where necessary, but also looking for new revenue streams and investment opportunities that can drive growth.
One key area where banks could focus on increasing earnings is in their lending practices. Mayo notes that there are still many businesses and individuals who need access to credit, even in a recession. Banks that can successfully navigate the risks and opportunities in this area could see significant earnings growth.
In addition to lending, banks could also focus on improving the efficiency of their operations. Mayo notes that many banks still have room to reduce costs and streamline their processes, which could improve their bottom line.
Another area where banks could potentially grow earnings is in wealth management and investment banking. These businesses may see a decrease in activity during a recession, but they could also present new opportunities as investors look for safe havens and alternative investments.
Overall, Mayo’s perspective suggests that banks should not simply weather the storm during a recession, but actively seek ways to grow their earnings. By taking a proactive approach to managing their operations and seeking out new revenue streams, banks could come out of a recession stronger and more resilient than ever.
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historically, big banks held on quite well in the high inflation & high interest rate environment (versus with SPX).
Unprofessional!! Mike Mayo should distinguish between LARGE banks that have been through CCAR for 12+ years (and that have solid balance sheets) vs. SMALL REGIONAL banks who are immersed in subprime mortgages and defaulting car-loans. We are already seeing 30-day delinquencies on car loans in DC. Also small banks have loaned money to these BRRRR-method (look it up) 'entrepreneurs'. There is an increased risk that some small banks will go bankrupted.
do not listen to this hack fraud he is paid to maake the ma and pa buy short every bank stock you can go back and listen to this fraud hack in 2008 and you will be shocked
they should all be in prison
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Does anybody trust anyone from Wells fargo? I don't think so
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