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Michael Scanlon is tempted by bank stocks, truly he is.
They are cheap — selling at near their lows for the year, and trading at well below the valuation of other large companies. But Mr. Scanlon, who helps oversee $7.5 billion for the John Hancock family of mutual funds in Boston and specializes in financial companies, is not about to give in and buy more shares.
“It’s just not going to be a smooth ride,” he said. “You wake up every day and there’s a new headline and a new concern.”