Reported about 12 hours ago
Howard Capital Management's CEO Vance Howard discusses concerns over how the recent wildfires in Los Angeles could lead to bank defaults, potentially affecting earnings for major banks in 2025. With nearly 12,000 homes lost, he suggests that some homeowners may abandon their mortgage payments, warning that market analysts have yet to fully account for these possible outcomes. While JPMorgan Chase reported record profits for 2024, Howard recommends patience with bank stocks as the financial impact of the wildfires unfolds.
Source: YAHOO