Dory Wiley says think about small community banks, plus a few stocks to avoid
August 2, 2023
Wiley states smaller banks are “picking up on the failures” of regional banks like Signature and First Republic. “Those are nice conservative plays in the banking industry just in case things were to go wrong, these banks actually would do better when things go wrong because they’re so strong in capital,” Wiley says.
Wiley advises investors to avoid Disney as the House of Mouse seems “out of touch” with their customers, the market, and the politics of their own state. Lastly, Wiley finds EV maker Tesla to be a “popularity stock”, likening it to a meme stock due to its high volatility, overvaluation, and ability to regularly go against the fundamentals.