Banks are anathema to stock-market investors now, but Peter Sorrentino of Huntington Asset Advisors sees that changing, probably around the middle of next year.
Of course, he concedes that the value trade on buying financials has been a great way to lose money this year.
"The financials will go through a phase where the market will realize, like, 'Hey, they're not all going out of business, and oh, by the way, we valued these things at a fraction of what their going concern value is,'" he told CNBC. "There's going to be a huge rally that will lift all of them at one phase, and then you'll see it sort out as it moves on in time."
Recommendations & Pans:
So who does Sorrentino like while they're still cheap?
He's leery of Citigroup :
"I don't know what you're buying with Citi," he said. "I'd rather go with somebody where there's less uncertainty. I like Wells Fargo, I like US Bancorp, I think those are much stronger balance sheets."
He's bullish on JPMorgan Chase: "That's almost becoming an asset play in and of itself," he noted.