Worried About Another Crash? Buy Goldman Sachs
The S&P 500 just hit a fresh all-time high, meaning that the effects of the COVID-19 pandemic on the overall stock market have been erased. However, the financial sector has lagged behind. Although it has rebounded quite a bit since March, the Financial Select Sector SPDR (NYSEMKT: XLF) is still lower by nearly 20% this year.
However, Goldman Sachs (NYSE: GS) has been an outperformer. Its stock has rebounded significantly more than its financial sector peers, and its recent results show why it's a good financial stock to hold if you think the stock market is going to crash again before the pandemic is over.
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Source Fool.com
