Jason Hall

Again, that website, it's epicportfolio.fool.com.

Let's get into it here.

We've already talked about Goldman Sachs earlier this week.

Matt, you're back from a Motley Fool event.

You're one of our bank experts here.

You've owned Bank of America longer than any other bank in your portfolio.

It's also become the largest bank holding that you have.

How was the quarter?

We saw Goldman Sachs reported the same thing in FICC.

That seems more of an industry trend and not a bank-specific trend.

Matt, we also heard from Schwab, which is a bank, but it's probably better known to most non-Schwab bank customers as a brokerage and investing services provider.

Specifically, the brokerage services, how did that business do?

Matt, if we go back a few years ago, investors were really worried about Schwab's balance sheet.

Interest rates were skyrocketing, created fears that Schwab's bank was going to follow Silicon Valley Bank and First Republic in failing.

We just saw the stock reach new all-time highs late last year.

The business and the balance sheet seemed to be on very solid footing.

But if we look at multiples, both on earnings multiple and book value multiples, it's still well below where we've seen it in prior peaks.

Do you think there's room for further multiple expansion?

Or should investors really be focused on earnings growth as the main driver for future returns?

There's a little bit of a compounded effect here when you're a brokerage and also a bank, which are both very cyclical, lumpy businesses.