Bottom Feeders' Could Save Financials: Thomson

April 21, 2008

NEW YORK - The financial sector took a beating in the first quarter, but financial 'bottom feeders' will speed its recovery, possibly ahead of the rest of the market, experts said here at a gathering of researchers and data providers. 'The financial sector was down 60% for the first quarter,' said Mike Thompson, managing director of Thomson Research, a division of Thomson Financial. 'The numbers are pretty bad, but believe it or not, financials are going to recover before the rest of the market does.' Financial 'bottom feeders' will likely continue to make large cash infusions into the financial sector, as bargain prices will be too good to resist, Thompson said.

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