Stephanie Link, chief investment strategist at Hightower Advisors, expressed that she's holding onto Bank of America shares despite Warren Buffett's significant sell-off, citing her bullish outlook on financials and the stock's recovery post-election as reasons for her confidence.
Link acknowledges the trend among investors to be optimistic about financial stocks following Donald Trump's victory, noting that Bank of America shares rose over 10% since the election, reflecting a broader industry rally and investor enthusiasm for potential deregulation.
Even as Buffett has decreased his stake in Bank of America, Link notes that his history with the bank—having made a major investment during the financial crisis—still lends credibility to its operations and future, influencing her decision to retain her shares.
Despite some initial hesitancy this year, Link asserts that she remains committed to financial stocks, highlighting a market recovery that aligns with her long-term bullish stance, particularly as various economic factors start to align for positive performance.
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