Yep I agree and I am not trying to analyze the economy but only the company itself, in particular if it has deep pocket and can survive a recession while others cannot. Just like high oil price is bad for the economy but good for oil companies.
Small potatoes like us can only trade based on the economy but we don't drive the economy.
Another thing is the risky loans that WAMU wrote in 2008 may be good in 2018.