Is a rally building?

This piece appeared in Bloomberg News. How perspicacious is this analyst? In six months, we'll know. I hope he's a genius.

Buy Banks as U.S. Financial Crisis Is Over, Bove Says (Update1)

By Aaron Clark

March 20 (Bloomberg) -- The U.S. financial crisis is over and the decline in bank stocks offers a ``once in a generation opportunity'' for investors, according to Richard Bove, analyst at Punk Ziegel & Co.

``The last time an opportunity of this nature existed to buy bank stocks this cheap was in 1990,'' Bove wrote in a note to investors. ``This is a once in a generation opportunity.''

The Lutz, Florida-based analyst said the Federal Reserve's rescue of Bear Stearns Cos. and actions to increase banks' access to capital have been ``innovative, dramatic'' and ``brilliant.''

A gauge of financial stocks in the Standard & Poor's 500 Index rose 2.6 percent today, the biggest gain among the 10 industry groups. The group of banks and brokers has been the worst performer over the past year, falling 28 percent.

Citigroup Inc., the largest bank by assets, jumped 4.8 percent to $21.38 at 10:41 a.m. in New York Stock Exchange composite trading. Bank of America Corp., the second-biggest U.S. bank by assets, gained 2.9 percent to $39.69. Goldman Sachs Group Inc., the world's biggest securities firm by market value, rallied 2.6 percent to $170.77.

Quibbling about details: he says once in a generation and then says 1990. 18 years a generation?