Financial service companies have taken the spotlight as the credit crisis has continued to spread from the mortgage market to the equity 
market.
The financial services sector is one of the ten industry groups in the S&P 500. It makes up approximately 20% of this index. This sector is clearly a vital component of the financial markets and the global economy. Yet, a common mistake made by many investors and the media is to lump all of the financial services into one broad category.
As is the case with many industry groups, there are many sub-sectors into which we can divide the broad financial group or overall sector. By differentiating between the range of sub-sectors, as an investor, you can start to identify the opportunities and the pitfalls in your financial-stock selection. This series of the Finance Professor will break down the financial services sector into clearly delineated categories of activity.
Let's start with the banks. ...
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