During the past month, investors have overreacted to the downside in their trading of the financial sector and now is the time to buy, says Robert Albertson, chief strategist at Sandler O'Neill.
On Tuesday, France's Nicholas Sarkozy and Germany's Angela Merkel announced they would consider a tax on financial transactions as banks and exchange stocks fell during the day.
"I don't get the point of it anymore," said Albertson, who does not think the tax will go through. "We've been blaming the financial sector for far too long, and it hasn't done any good."