Five years after the depths of the financial crisis—which was marked by, among other things, the demise of Bear Stearns and Lehman Brothers—the brokerage industry has recovered smartly. That’s been a boon for investors in this segment of the financial sector, especially over the past year.
That brokerage stocks star in a bull market should come as no surprise. When share prices rise, investors become more confident and tend to trade more, boosting brokers’ revenues. Moreover, corporate America’s massive cash piles should lead to more mergers and buyouts, which in turn should boost investment banks, says S&P Capital IQ analyst Ken Leon.
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