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Bank of America (BAC) has a message to those still disgruntled over its $29B purchase of Merrill...

Bank of America (BAC) has a message to those still disgruntled over its $29B purchase of Merrill Lynch in 2009: We told you so. BofA's investment banking, sales and trading, and wealth management businesses - all boosted by the Merrill deal - have provided the rare bright spots in the still-struggling bank's recent quarterly results.
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Comments (8)
  • bbro
    , contributor
    Comments (9852) | Send Message
     
    Still paid 700 million too much...
    3 May 2011, 03:23 PM Reply Like
  • Ken Hasner
    , contributor
    Comments (427) | Send Message
     
    Oh Boy..another 'feel good' story about Bank of America. I guess some funds still need time to dump their shares before the next carnage.
    3 May 2011, 03:25 PM Reply Like
  • Jim P. Smith
    , contributor
    Comments (437) | Send Message
     
    Three words: Mark-to-market
    3 May 2011, 03:29 PM Reply Like
  • bbro
    , contributor
    Comments (9852) | Send Message
     
    Mark to market is a 2008 story....
    3 May 2011, 03:39 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6775) | Send Message
     
    It's true that Merrill Lynch is one of the better-performing operations at BAC. But that's mainly in comparison to their other assets.

     

    And it wouldn't make sense to pay for those "other assets" just to get a piece of Merrill.
    3 May 2011, 04:22 PM Reply Like
  • Econdoc
    , contributor
    Comments (2944) | Send Message
     
    it is small compared to the bank.

     

    thundering flock
    4 May 2011, 12:21 AM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6775) | Send Message
     
    That's EXACTLY WHY "it wouldn't make sense to pay for those "other assets" just to get a piece of Merrill."
    4 May 2011, 09:17 AM Reply Like
  • pig1mouse
    , contributor
    Comments (6) | Send Message
     
    see Buffett's comments in the Financial Crisis Inquiry Commission Report(I paraphrase)...they paid too much. He then disclosed that he sold the shares that he inherited from a previous deal.
    4 May 2011, 12:27 PM Reply Like
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