Better Opportunities Outside Financial Sector
Queens Road manager Steve Scruggs thinks the risk/reward trade-off in financials is less attractive than in other sectors.
John Coumarianos: Move on to the large cap fund a little bit as I mentioned before you were light on financials back in '08. Take us through your analysis and the process that made you realize to you that banks maybe not so healthy?
Steve Scruggs: Well, it's interesting because we benefited a lot from the run-up in the banks because we did own – we owned AIG, we owned Citigroup, Bank of America…
John Coumarianos does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.