🏃‍♀️ 💰 On your mark...

Remember that investing is a marathon, not a sprint. [Wealthy Retirement]( SPONSORED [Bill O'Reilly - Truth Trump Economy]( Bill O'Reilly: "The real TRUTH about the U.S. economy" [Click Here > >]( [MARKET TRENDS]( Why the Big Banks Are Worth the Wait Jody Chudley, Contributing Analyst, The Oxford Club [Jody Chudley] On Saturday morning, I'm going to gulp, put one foot forward and then start running straight uphill. Once I get started, I won't stop moving for the next 11 or 12 hours. After a year of training and five canceled races, I'm about to run a socially distanced ultramarathon. This ultramarathon is called the "S3." The "S" stands for "Sinister." The course covers 66 kilometers and 9,000 feet of elevation in Rocky Mountain trails in Crowsnest Pass, Alberta. But finishing the race won't be the most important thing that happens to me on that day... My wife, Stacey, and I will be celebrating our 20th wedding anniversary. Unlike an ultramarathon, being married to her has been no challenge at all. I wish everyone could have a partner who wakes up happy every single day and makes life so much fun. Seeing Stacey and my two kids at the finish line will be the best moment of my entire year. SPONSORED [Why the Market-Makers DEFINITELY Don't Want You to See This]( [Options Exchange ID]( This baby-faced former CBOE trader uncovered a secret technique that gives everyday investors the chance to make money whether a stock goes up OR down! The market-makers [DO NOT WANT YOU TO SEE WHAT HE'S GOING PUBLIC WITH](. Investing Is Like an Ultramarathon Like in an ultramarathon (or relationship), when investing, it's easy to go too hard early. Success requires patience. Watching the share prices of Citigroup (NYSE: [C]( Wells Fargo (NYSE: [WFC]( and Bank of America (NYSE: [BAC]( languish after releasing third quarter earnings that I thought were pretty good reminded me of that... I went into this earnings season expecting that a drop in loan-loss provisioning would be [the catalyst that would move bank shares higher](. I was right about the big improvement in loss reserves. Citigroup's provision for credit losses dropped from $7.9 billion in the second quarter to just $2.26 billion in the third quarter. Wells Fargo's provisions fell from $8.4 billion to just $769 million. Bank of America's provisions declined from $5.1 billion to only $1.4 billion. These declines exceeded my optimistic expectations, yet they failed to light a fire under the stock prices of the banks. Instead, the share prices of these companies dropped. Instead of feeling relief that the worst of loan-loss provisioning is now behind us, the market focused on the damper that [low interest rates]( are putting on lending income. It's a legitimate concern... And with the Fed signaling low rates for the foreseeable future, interest rates are going to be a headwind for banks' earnings growth for a while. While low rates aren't helpful, when I look at the big banks, I see stocks that are historically cheap on traditional valuation metrics. Citigroup and Wells Fargo especially, which are trading at just 50% of book value, are almost comically inexpensive. [Chart - Citigroup and Wells Fargo Trade at Deep Discounts]( Combine that with the fact that the balance sheets of the banks are also historically strong, and these rock-bottom valuations are even more appealing. Given these valuations and the fact that shares could easily double, the downside is virtually nonexistent. I hope this trade doesn't test our patience as much as an ultramarathon. But if it does, the risk-reward offered here is worth it. Good investing, Jody P.S. If you missed Chief Income Strategist Marc Lichtenfeld's urgent presentation on how to play third quarter earnings yesterday, you still have a chance to access his "Buy Now List!" [Just click here.]( [Leave a Comment]( MORE FROM WEALTHY RETIREMENT [A 4.6% Yield From a Perpetual Dividend Raiser]( [Why You Have to Play This Earnings Season]( [What the Election Means for Your Portfolio]( [Facebook]( [Facebook]( [Twitter]( [Twitter]( [Email Share](mailto:?subject=A%20great%20piece%20from%20Wealthy%20Retirement...&body=From%20Wealthy%20Retirement:%0D%0A%0D%0A Remember%20that%20investing%20is%20a%20marathon,%20not%20a%20sprint. %0D%0A%0D [Email Share](mailto:?subject=A%20great%20piece%20from%20Wealthy%20Retirement...&body=From%20Wealthy%20Retirement:%0D%0A%0D%0A Remember%20that%20investing%20is%20a%20marathon,%20not%20a%20sprint. %0D%0A%0D SPONSORED [Do You Own ANY 5G Stocks?]( [5G Design Graphic]( calls 5G "the lifeblood of the new economy." If you don't invest now, you'll regret it later. 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