August was agonizing, to say the least. The volatility-laden indexes have scared the heck out of investors, and now everyone is asking the same question: “What am I supposed to buy now?” Well, one option is to follow Warren Buffett into banking stocks. Buffett — via Berkshire Hathaway (NYSE:BRK.A) — just plunked down $5 billion for a stake in Bank of America (NYSE:BAC), which immediately forced investors to start looking at the industry.
I have respect for Buffett, but you shouldn’t follow in his footsteps on this one. Buffett got a special preferred-stock deal on Bank of America that other investors can’t get, so you’d be taking a huge risk that Buffett is not. What I would recommend you do is get serious about the real trends in this market, and when you look at the options investors have right now, there’s only one place for them to go this September — dividend stocks.
Source: InvestorPlace
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