Vice Chairman of John Rogers (Trades, Portfolio)' Ariel Investments, Charles Bobrinskoy, commented on the pullback in the market this week, saying bank stocks were very cheap in June, got to fair value the day after election, ran to overvalued and now are coming back to earth. He also believes regional bank stocks are too expensive.
Financials compose 28% of Ariel's portfolio as their largest represented sector. Their largest positions in bank stocks are: Banco Santander Chile (BSAC, Financial), BOK Financial (BOKF, Financial) and US Bancorp (USB, Financial).