Investment analysis of the common stocks of selected California banks. - Page 41 |
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o f o b t a in in g b oth growth and income to d a y from o th e r
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b a n k s s i t u a t e d i n g ro w in g c o m m u n ities? j
L arge num bers o f p e n s i o n f u n d s , s a v i n g s b a n k s , j
and o t h e r f i d u c i a r y i n v e s t o r s h av e t u r n e d t o b an k s t o c k s j
a s c o n s e r v a t i v e e q u i t i e s o f f e r i n g b e t t e r y i e l d s t h a n !
b o n d s and p r e f e r r e d s t o c k s . ^2 A lth o u g h i n s t i t u t i o n a l
i n v e s t o r s hav e b e e n p u r c h a s i n g b an k s t o c k s f o r l o n g - t e r m
i n v e s t m e n t s , m a rk e t f l u c t u a t i o n s and w id e l y v a r y i n g e a r n i
n g s r e c o r d s o f co m m ercia l b a n k s r e v e a l t h a t b a n k s t o c k s i
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may n o t be a s sound a s i n s t i t u t i o n a l i n v e s t o r s b e l i e v e . j
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• I nc*e x o f Bank S to c k P r i c e s
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| t h a t n o t a l l i n v e s t o r s g a i n e d when t h e y s o l d t h e i r bank
| s t o c k s * I n J a n u a r y , 191& t h e S ta n d a r d and P o o r ’ s in d e x
| o f b ank s t o c k p r i c e s was 66•&, and f o l l o w i n g t h i s d a t e
i t s t e a d i l y and r a p i d l y ad v a n c e d t o 2&3*6 i n November,
t ^ G e o r g e G ey e r, ,fO u tlo o k f o r Bank S t o c k s , ” The
| A n a ly s t J o u r n a l , & :123, A u g u st, 1 9 5 2 .
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Description
| Title | Investment analysis of the common stocks of selected California banks. - Page 41 |
| Repository email | cisadmin@lib.usc.edu |
| Full text | o f o b t a in in g b oth growth and income to d a y from o th e r i b a n k s s i t u a t e d i n g ro w in g c o m m u n ities? j L arge num bers o f p e n s i o n f u n d s , s a v i n g s b a n k s , j and o t h e r f i d u c i a r y i n v e s t o r s h av e t u r n e d t o b an k s t o c k s j a s c o n s e r v a t i v e e q u i t i e s o f f e r i n g b e t t e r y i e l d s t h a n ! b o n d s and p r e f e r r e d s t o c k s . ^2 A lth o u g h i n s t i t u t i o n a l i n v e s t o r s hav e b e e n p u r c h a s i n g b an k s t o c k s f o r l o n g - t e r m i n v e s t m e n t s , m a rk e t f l u c t u a t i o n s and w id e l y v a r y i n g e a r n i n g s r e c o r d s o f co m m ercia l b a n k s r e v e a l t h a t b a n k s t o c k s i i may n o t be a s sound a s i n s t i t u t i o n a l i n v e s t o r s b e l i e v e . j i | T h is i n h e r e n t r i s k s t r e s s e s t h e im p o r ta n c e o f c a r e f u l j j a n a l y s i s and t h e e s t a b l i s h m e n t o f in v e s tm e n t v a l u e s on ! i s e c u r i t i e s w hich h a v e a minimum am ount o f r i s k . iI • I nc*e x o f Bank S to c k P r i c e s [ : 1 The p a s t h i s t o r y o f b an k s t o c k p r i c e s r e v e a l s i ! i | t h a t n o t a l l i n v e s t o r s g a i n e d when t h e y s o l d t h e i r bank | s t o c k s * I n J a n u a r y , 191& t h e S ta n d a r d and P o o r ’ s in d e x | o f b ank s t o c k p r i c e s was 66•&, and f o l l o w i n g t h i s d a t e i t s t e a d i l y and r a p i d l y ad v a n c e d t o 2&3*6 i n November, t ^ G e o r g e G ey e r, ,fO u tlo o k f o r Bank S t o c k s , ” The | A n a ly s t J o u r n a l , & :123, A u g u st, 1 9 5 2 . |
