On Monday's MarketFoolery, host Chris Hill, Motley Fool One analyst Jason Moser, and Stock Advisor Canada analyst Taylor Muckerman, look at big banks and the banking industry.
Chris notes that Citigroup (NYSE: C ) was up today and that its Q2 profits and revenue came out better than expected. The good news comes as Citi agreed to pay $7 billion to settle government claims that it misled investors about mortgage-backed bonds sold ahead of the 2008 crisis. Taylor explores some of the shakeups and changes in the bank and then looks at legal issues with the Justice Department crackdown, noting that the consequences of the banking crisis from 2008 are still echoing through the industry. Jason looks at big banks with a large amount of skepticism. He thinks they're continually involved in scandals and doesn't see a compelling reason to investing in them. Instead, he suggests look for a well-run insurer as a substitute.
Bank of America + Apple? This device makes it possible.
Apple recently recruited a secret-development "dream team" to guarantee that its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are even claiming that its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts that 485 million of these devices will be sold per year. But one small company makes this gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and to see Apple's newest smart gizmo, just click here!