RE: straw hats in winter........a couple of questi I'm in agreement the stock is now looking exceptionally cheap; The two main questions are 1) when does thier specialty sector (commodity, resources) improve and what condition will they be in when they get there? The wealth management business is a good balance to thier capital markets business; And they seem to be managing the downturn well.
If this challanging time only lasts 12-18 months CF should be in good shape. If it is 18-36 months we may have an issue.
Remember, in December 2008 at the depth of the crisis this stock traded close to $3. Two years later it was above $14.
IMHO the company is stronger, broader and better capitalized today than it was then. So the bet at this point is a two year one.