OH THOSE SAVVY, SAVVY SCOTS

Scottish money managers like U.S. regional banks:

“The regional banks are more leveraged to benefit from an improving economic recovery than the larger banks,” James Kinghorn, a fund manager at Scottish Widows Investment, said in an interview. “They are better relative to European banks but they are also attractively valued. The U.S. economy has much more scope to surprise positively than many other regions.”

Well said! He forgot to mention the coming wave of M&A, however. . . .