PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Fidelity Independent Advisor

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Fidelity Independent Adviser Publishes Banking Tops Momentum Rankings – Sector Momentum Tracker Reports - This week’s issue of Fidelity Independent Adviser’s Sector Momentum Tracker examines the recent momentum surge in banking funds
Fidelity Independent Adviser Publishes Banking Tops Momentum Rankings – Sector Momentum Tracker Reports

 

NewswireToday - /newswire/ - Williamstown, MA, United States, 2008/10/01 - This week’s issue of Fidelity Independent Adviser’s Sector Momentum Tracker examines the recent momentum surge in banking funds.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

This week’s issue of Fidelity Independent Adviser’s Sector Momentum Tracker examines the recent momentum surge in banking funds. Sector Momentum Tracker’s Sector Momentum Table ranks a variety of Fidelity Mutual Funds using momentum based indicators to pick timely investments for its subscriber base.

In his weekly feature, Don’s Outlook, publisher Don Dion noted that, “investors are currently witnessing what is almost certainly a once-in-a-lifetime restructuring of the global financial sector.” Banking (FSRBX) was the best performer last week on Dion’s momentum ranking table.

Since March, three venerable Wall Street firms—Bear Stearns, Merrill Lynch and Lehman Brothers—have either merged with larger, more stable rivals or gone bankrupt, while Morgan Stanley and Goldman Sachs have received permission from the Federal Reserve to reorganize as commercial banks.

Last week, JPMorgan Chase agreed to acquire most of Washington Mutual’s operations, and this morning Citigroup announced it would acquire Wachovia for $2.2 billion ($1 a share). As part of the Wachovia deal, Citigroup has agreed to assume $42 billion worth of Wachovia’s debt, and the FDIC will assume the rest. “Safe haven investments such as gold and Treasury securities are likely to retain much of their appeal to investors in such an uncertain environment,” Dion said.

FSBRX has benefited from the Securities and Exchange Commission’s temporary ban on the short sale of financial stocks, which will remain in place until October 2. In addition, the top holdings in this fund include many of the banks that Dion believes are “likely to thrive” in the coming months and years: Wells Fargo (14.40 percent of net assets), Bank of America (4.35 percent). In the wake of the implosion of Wall Street, retail branch networks and FDIC-insured deposits appear to be the keys to future profitability.

Dion recently spoke about the sector when he teamed up with Federated Investors’ Phil Orlando for an election themed conference. “No matter who takes office this January, we will see changes in the treatment of the financial sector,” Dion said. “Obama and McCain have different views on regulation,” Dion added, “people should position their portfolios now to take advantage of upcoming changes.”

“After much partisan wrangling, the contours of a financial sector bailout are emerging on Capitol Hill,” Dion noted, “although a final bill is still a long way from passage.” In its current incarnation, the Treasury Secretary would receive $350 billion immediately to buy mortgage-backed securities—so-called “toxic debt”—from investment banks. The goal is to restore confidence in the financial system, whose short-term credit markets have seized up in recent weeks, i.e., banks are hesitant to make even short-duration loans to one another because no one knows how much bad paper the other is holding. A massive infusion of taxpayer dollars could help alleviate much of that institutional fear. Depending on how well the initial $350 billion outlay works, Congress could authorize further expenditures of up to $350 billion more to help lubricate the debt markets.

Sector Momentum Tracker is a member of Fidelity Independent Adviser’s family of financial publications. With more than 70,000 subscribers in the United States and 29 other countries, Fidelity Independent Adviser publishes four monthly newsletters and three weekly newsletters. Its flagship publication, Fidelity Independent Adviser, has been published monthly for 11 years and reaches 40,000 subscribers.

Don Dion, publisher of Fidelity Independent Adviser, is also president and founder of Dion Money Management, a fee-based investment advisory firm to affluent individuals, families and nonprofit organizations, where he is responsible for setting investment policy, creating custom portfolios and overseeing the performance of client accounts. Founded in 1996 and based in Williamstown, Massachusetts, Dion Money Management manages more assets for clients in 49 states and 11 countries. A licensed attorney in Massachusetts and Maine, Mr. Dion has more than 25 years’ experience working in the financial markets, having founded and run two publicly traded companies before establishing Dion Money Management.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Fidelity Independent Advisor

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


Fidelity Independent Adviser Publishes Banking Tops Momentum Rankings – Sector Momentum Tracker Reports

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Donald Dion - FidelityAdviser.com 
1-800-432-7447 donalddion[.]dionmm.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Fidelity Independent Advisor securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Fidelity Independent Advisor / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

LexisNexis Wins 21 Awards from Two Prestigious Publications
Frost & Sullivan Commends AutoGravity for Transforming Automotive Financing Industry
NYSE Governance Services and FTI Consulting Announce 17th Annual Corporate Law Firms Rankings
FTI Consulting and Asia Group Advisors Formalise Affiliate Relationship Across Asia Pacific
LexisNexis Receives 2017 Corporate Leadership Award from Freedom House for Activism in Advancing the Rule of Law
Societe Generale Named ‘Distinguished Provider of Transaction Banking Services’ by FImetrix
ALM Wins 2 Awards at 2017 Jesse H. Neal Awards
ALM’s ThinkAdvisor Launches Life/Health Channel
The National Law Journal Unveils Monthly Print Magazine
Societe Generale Selects HPD Software to Support its International Factoring Expansion
GE Closes Sale of Consumer Finance Business in France - Last Major Closing of GE Capital Exit Plan
Lazard Global Listed Infrastructure Fund Wins Two Lipper Fund Awards
Global Brands List of 2017 Awarded Elite Capital & Co. the Best Financial Brand in United Kingdom
FTI Consulting Receives Recognition in the Legal Industry
FinTech Start-ups Disrupt Business Models, Customer Engagement and Financial Services Delivery in Europe Finds Frost & Sullivan

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  BizJobs.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)