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June 18, 2020

S&P Global: Kevin Philip Quoted in "Beat-up bank stocks rally 25% or more in single month"

"Beat-up bank stocks rally 25% or more in single month" by Zach Fox and Zuhaib Gull, S&P Global.

The outperformance of weaker stocks fits broader trends in the recent market rally, said Kevin Philip, managing director for Bel Air Investment Advisors, an investment advisory firm. He said many investors have been surprised by the rally and have focused on lower-valued stocks with the hope of "catching up" on the gains they had missed. Further, he said there appears to be evidence that quarantined individuals have made a hobby of investing with their newfound free time.

"There seems to be a tremendously large increase in small investor appetite in a way that feels more like gambling than investing," Philip said.

Read the full article here.