Banking Sector To Do Well: Fund Manager Tells CNBC (BAC, JPM)

The financial sector has emerged to be the best performing segment. Talking with CNBC, David Katz, chief investment officer at Matrix Asset Advisors, said that the financial sector is expected to keep up its positive performance.

Katz said that the valuations for the banks and financial institutions are creeping back towards normalcy. Katz expressed his preference for financials stocks but said that he is wary of the regional banks. Katz said, ““We’re wary of regional banks—we still think they have a lot of commercial real estate that has to be written down.”

Katz said that he expects big banks like Bank of America (NYSE: BAC) and JPMorgan Chase (NYSE: BAC) to performs well.