Wells Fargo, JPMorgan, Bank of America Favored: Smead Capital

The transcript discusses the valuation of bank shares, focusing on Wells Fargo, JP Morgan, and Bank of America, and the attractive entry prices due to discounted concerns. It highlights the investment strategy of focusing on domestic shares and the US economy, contrasting it with Citigroup's global leverage. The discussion also covers the low velocity of money and its potential impact on inflation, as well as the strength of the US consumer and its role in the economy. Finally, it provides insights into Citigroup's performance and its implications for the banking sector.

In what ways does the speaker believe the consumer is strong in the current economy?

What does the speaker suggest is necessary for the millennial generation to engage in household formation activities?