5 or 6 years ago, the Graham and Doddsville newsletter profiled a fund that invested almost entirely in banks and utilities, Studness Capital Management. I've thought about them more than once this year. Especially on these big rate days. business.columbia.edu/sites/default/…

Historically, the primary reason you'd own a regional bank was rate sensitivity, and you didn't want to own Schwab / LPLA / RJF for some reason. (Excluding a few special ones... some of which are still great, others that no longer exist)

@ShortSightedCap Thanks for sharing