The stocks, down sharply since September, could fall another 20% as more of the bank's business loans and home mortgages go bad. It holds many risky interest-only mortgages.

RJF is going to take enormous market share in the years to come as rich investors flee the big brokerages that have let them down, and as wirehouse brokers go independent

Adami says Jefferies( JEF), Knight Capital( NITE) and Raymond James(RJF) will be the winners.

“TD Ameritrade (AMTD), Charles Schwab (SCHW) and Raymond James (RJF) all appear to be acting well according to Worth. Not only are they showing relative strength, but they’re trading at or near 52-week highs.”

it has potential

I love Amerprise (AMP) and Raymond James (RJF) says Guy Adami. But they’re not quick trades. These are the kinds of stocks you buy and hold.

From Barron's 7-30-07:

"Magic words at this moment: "Fortunately, unlike some of the larger firms in the securities industry, [we have] virtually no exposure to the subprime business."

They were uttered last week by Thomas James, chairman and CEO of Raymond James Financial (RJF), as the financial- services firm reported record quarterly profits. But even that reassurance and a 20% jump in net income weren't enough to stave off a 3% stock slide...In truth, its subprime-free aura isn't the only appeal. CEO James has been building its banking and asset-management operations, and that shift is "starting to click," notes Wachovia analyst Douglas Sipkin. Bank revenue increased 41% last quarter, and strong deposit growth continues to outpace loan production. Management recently guided up the bank's contribution to 2008 earnings to 19 cents a share from 12 cents, and that figure is projected to reach 35 cents a share in 2009."

5.4

Upgraded by Wachovia from Mkt Perform to Outperform

I use this brokerage for my IRA and trades