$Goldman Sachs(GS.US) made a huge profit in its trading business in the earnings report, yet the stock price fell by four or five points—buying on expectations and selling on facts was played out clearly; $JPMorgan Chase(JPM.US), $Lemonade(LMND.US) both saw slight declines, while $Visa(V.US) actually rose slightly.
The old rule of bank earnings season: no matter how good the numbers look, as long as guidance doesn't exceed expectations, crowded positions will cash out first.
Payment networks, these cash flow machines that don't rely on interest rates for their livelihood, are treated as safe havens. For the remaining bank stocks in this earnings season, do you still dare to hold through the earnings release?
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