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Article: Investment Bank, Brokerage Surge Continues.(Banks lag)(Brief Article)
- Article from:
- American Banker
- Article date:
- March 7, 2000
- Author:
CopyrightCOPYRIGHT 2000 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Investment banks and brokerages have become the stock of choice for investors looking for some footing in financials, a trend that was evident yet again Monday, when stock prices of most brokerages rose while those of most banks fell.
"The banks are the ugly duckling of Wall Street," said David Allaire, co-advisor for the Imperial Bank Fund, a portfolio of financial stocks managed by Retirement Planning Co. of Providence, R.I. "Investment banking are being treated well by the market right now."
With a rising stock market, investors believe investment houses -- with their underwriting, capital markets, and brokerage business lines -- will reap bigger ...
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