Banks play a critical role in the financial system, providing everything from commercial loans to wealth management and payment processing services. Still, investors are uneasy as banks face challenges from credit quality concerns and potential regulatory changes.
These doubts have caused the industry to lag recently as banking stocks have collectively shed 10.1% over the past six months. This drawdown was disheartening since the S&P 500 held its ground.
Warren Buffett enjoys running Berkshire Hathaway because he gets to do what he loves with people he likes. He advised students to work for those they admire and pursue their passions, as it is the key to success and fulfillment in life.
