As I mentioned in my previous blogs, the Financials are now good investments. They have been punished as a group, due to the subprime woes. However, the banks that didnt not have much subprime exposures, have been unfairly punished by the market. Think of it then, as a Wall Street sale. Savy investors such as Warren Buffett and Icahn have been buying up finanical stocks, and so should you.

The following is listed by Stockpicker.com. They found out what Buffett & Co have been buying.

Buffett announced a new nine million-share position in Bank of America (BAC) worth $425 million. Bank of America has $1.5 trillion in assets, trades at nine times earnings and has a dividend yielding 5%.
Buffett also added to his position in US Bancorp (USB). The bank is in the fortunate position of having such little exposure to subprime that the average credit quality of its customers actually increased year over year. US Bancorp, which pays a generous 4.9% yield, has paid a dividend without fail since 1863.

Lampert increased his holdings in Citigroup (C) in the last quarter. Lampert, the CEO of Sears Holdings, is betting that the stock has sold off too much in the mortgage fiasco, and he may also be betting that CEO Chuck Prince is on his way out, a catalyst that many assume will boost the stock.