Bank stocks would look like obvious bargains if not for the fact that they’re issued by banks. The
KBW Nasdaq Bank Index
recently traded at a level not seen since 1998. Maybe it’s just having an off quarter-century.
An exchange-traded fund that tracks the index,
Invesco KBW Bank
(ticker: KBWB), goes for seven times projected 2023 Ebacatp, or earnings before analysts completely abandon their predictions.

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