Gensler: European Banks Still Too Risky
European banks were too stingy when raising capital, leaving them exposed to future downturns, says T. Rowe Price Global Stock fund's Rob Gensler
John Coumarianos: Last question, I wanted to talk financials a little bit with you. It looked like you recently added Bank of America, and I wanted to get your assessment about how their problems are shaping up and why you picked that one over say Wells or maybe some slightly smaller one like U.S. Bancorp?
Rob Gensler: Well, Wells and U.S. Banc are great names. They're just not cheap, okay. I'm a big tangible book fan, when it comes to financials. Not book, but tangible book, because that's the fact, that's what they can actually earn.
John Coumarianos does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.