- The Too Big To Fail banks are the new Philip Morris - "The most sued, regulated, politicized, and damned company in the last 50 years," value investor Bill Smead tells CNBC. Philip Morris (now Altria) also happens to be the best-performing stock on the NYSE during that time frame, he adds.
- "Their sins are all six to eight years old," says Smead of Bank of America (BAC +0.2%), his fund's 4th largest holding. "The good things are all out in their future. Basically, as a value investor that's all you are looking for in this world."
- Smead sees normalized earnings hitting $2.50 per share over the next four to five years, and a $30 stock price.
From other sites
at AdvisorHUB (Apr 10, 2015)
at AdvisorHUB (Apr 8, 2015)
at MarketWatch.com (Apr 8, 2015)
at CNBC.com (Apr 7, 2015)
at AdvisorHUB (Apr 7, 2015)
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