Here's the Next Stock I'm Going to Buy
All three major stock market averages are firmly in bear market territory, and this has created many bargains for patient long-term investors. One part of the stock market that is full of particularly attractive opportunities right now is the financial sector.
Ally Financial (NYSE: ALLY) is a financial stock many investors aren't too familiar with, but the innovative and fast-growing bank looks like an incredibly cheap but solid investment from a long-term perspective.
Ally is an online-based bank that offers a full range of loans, deposit products, brokerage services, and more, with a specialization in auto loans and high-yield savings accounts. Prior to the financial crisis, Ally was General Motors' banking subsidiary -- hence the focus on auto loans. In fact, Ally is the largest prime auto lender in the U.S., with about $106 billion in outstanding auto loan and lease balances.
Source Fool.com
