Curious about how the banks did post-earnings? What about how the Federal Reserve will approach its July meeting?
Don't sweat it, investors.
Brian Yacktman, CIO of the YCG fund weighed in on the banks, the Fed and how investors should approach their portfolios in the long-term.
Since big banks--including Wells Fargo (WFC) - Get Report , Bank of America (BAC) - Get Report and JPMorgan Chase (JPM) - Get Report --reported earnings recently, investors may be looking to add some financials to their portfolios.
"Well, in banking, I think what I'm thinking of is, is that there's low disruption risks there. They're almost like a utility. And so we're very longterm focused and we want to know that first and foremost, we're very focused on finding global champions that have staying power and have pricing power as well with longterm growth opportunities. They're still growing their deposits 5% a year. And that's ultimately what's going to be underpinning their profitability over time. And because of that low disruption risk that to me is the key to say, look, if you can get into these banks, that was something that has a very longterm, great future. You know, now's a time to pounce," said Yacktman.
Yacktman also weighed in on what he expects from the Federal Reserve's July decision and how investors can position their portfolios to protect themselves from another month like the month of December 2018.