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  • Congress Owns These Stocks, Should You? [View article]
    dectra

    We do not see convictions because congress exempted themselves.
    just like they were exempt from the original Obamacare and a whole lot of laws they passed.
    You really need to read the definition of illegal to understand my use of the word. I would like to see change to many things this is one but not even on my list of the top 100.
    Mar 26, 2015. 07:51 AM | 3 Likes Like |Link to Comment
  • Bank Of America: Intrinsic Value $26 Per Share, Upside Potential 60%+ [View article]
    Nicholas

    I liked your article Bank Of America: The Frustration Mounts For Shareholders.
    I made a comment on that venue
    I just did a buy/write at a cost of 14.94 for 1/15/16
    if all goes well that's over 15% gain. it will be interesting to watch
    24 Mar, 01:27 PM
    I am 68 and been following the stock market since the day I was given the opportunity to get on to the floor of the NYSE in 1958 to write about a NYC landmark for school. Many of my mentors over the years have always preached single stocks as the core of your investments. They said in general never buy a mutual fund unless you have no choice(401K). They taught me to look at the 10 biggest holdings and buy into a few. I'm against bonds because of the buy and hold nature which gives lowers liquidity over it's life span. If you have to sell then you take a terrible haircut. I do have bonds but they mature within the next 5 years. I have invested in a couple of zero's for my kid' and grand kids.
    My last four years of banking I was the risk manager for a foreign international bank. If you have the life span and do not have a possible liquidity problem in the interim I would definite do those bonds as a piece
    of a portfolio.
    Mar 25, 2015. 06:28 PM | 1 Like Like |Link to Comment
  • Bank Of America: Capital Concerns Driving Share Price Down [View article]
    ever_gordon

    Actually he does upon signing a new bill which removes a former amendments to a previous bill.
    On November 12th, 1999, Bill Clinton signed into law the Gramm-Leach-Bliley Act, which repealed SOME of the provisions of the Glass-Steagall Act.

    Bottom line with out his signature no repeal.
    Mar 25, 2015. 05:56 PM | 2 Likes Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    dectra

    Their have been articles about congress buy and sell of stocks during the periods when their were committee meetings with corporations.
    These trades if done by the employees of the company would be insider trading.
    Economist, Business Week, WSJ and Investors Business Daily, Forbes and Fortune have had articles over the last ten years concerning such un-ethical but not illegal trading by Congress.
    Mar 25, 2015. 03:57 PM | 3 Likes Like |Link to Comment
  • Bank Of America: Intrinsic Value $26 Per Share, Upside Potential 60%+ [View article]
    Nicholas

    First I take the tax situation if single or married filing you get to look at short and long term capital gains plus a couple of k1's
    if you have an ira/roth you are not looking at taxes just distribution at 59 1/2 and the future where your tax question arises.
    45% of my assets are in Roths , MY wife and I have securities a/c's in the 2 digit millions.
    Your comment the reality is that the math makes it impossible for stocks.
    Do you realize that with DRIP and covered calls how much compounding you can do?
    How about we do a test, seeing you have invested in zero's give me a couple of issues from 20 years ago and will mature in the next ten years and I will pick some prominent stocks and we can compare where we are and guess where we think we are going.
    About six to nine months ago Wharton 2002 said he believed like you do and gave me a 2034 zero bond. it will make 265% over the next 19 years if my memory is correct. This is a great return if you buy and hold.
    Now I have some MSFT at a cost of under a dollar (1986), BAC at 5-6 (2012), GE at 5-7 (2009) AAPL at 5 (1997) BA 42 (2004) I have over 2 dozen other stocks
    that beat 265% gain since 2000.
    Mar 25, 2015. 03:35 PM | Likes Like |Link to Comment
  • Bank Of America: Intrinsic Value $26 Per Share, Upside Potential 60%+ [View article]
    Investing rev

    Bank make other types of loans that make up the net interest. If you work for a small business chances are your paycheck was issued against a yearly loan by a bank. Most small businesses do not have the constant cash flow to make payroll because their businesses are seasonal.
    Mar 25, 2015. 10:12 AM | Likes Like |Link to Comment
  • Bank Of America: Intrinsic Value $26 Per Share, Upside Potential 60%+ [View article]
    investing rev

    Big banks in general do not keep mortgages. A bank gets fees from the mortgagee for issuing the loan and also get a servicing fee from the GSE.
    They do assume a "recourse" risk should the paperwork be poor and in some cases the GSE can push the loan back if fraud is committed by the mortgagee. Banks have been unloading lower value mortgages since the 1930's however with the HUD and Community reinvestment acts it became increasingly more profitable to package the loans soon after issue.
    Mar 25, 2015. 10:07 AM | Likes Like |Link to Comment
  • Bank Of America: Capital Concerns Driving Share Price Down [View article]
    bvf13

    I did not comment because it was not addressed to me.
    WFC is a great bank if you want a mortgage as they are one of the best.
    The other components of the bank are lacking example WF Advisors has a platform for trading that is 25 years behind the time. Their platform representatives are not as well trained as other banks.
    BAC is a deposit taking bank and small business bank their delusions of grandeur by taking on Countrywide is/was a disaster. Merrill on the other hand has great potential and may become the tail that wags the dog like GE CAP did to GE.
    US bank is in my opinion the better bank however they will never reach their potential because of Dodd-Frank. The great super regionals can't afford the legal burden placed on them
    JP Morgan Chase is another great bank(My first p/t job was with them in 1962 while in High School). They are a business bank that has decided to go back to it's roots as a deposit bank, they are building branches and getting into the mortgage service business. They like BAC made some really dumb moves over the last decade however with expanding foot prints in California and Texas I believe they have the most potential.
    As for Citibank when Reed left in 2000 the natives of NYC started to refer to the bank as Shitty bank because it deteriorated so much
    Mar 25, 2015. 09:10 AM | 1 Like Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    emerald

    I do enjoy watching CNBC and use one of my dvrs to record the Santelli exchange during the day.
    Mar 25, 2015. 08:42 AM | Likes Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    Auto44

    I do read a lot, but what is funny you mentioned WFC. I'm on my third mortgage with them (different properties) and it is what they do best.
    They also have WF Advisors that offer free trades with a PMA a/c the securities platform they offer if state of the art 1990. To be kind I will just say if you had to pay for their service the would not exist. I would also say their platform people are not trained as well as I would expect.
    Mar 25, 2015. 08:38 AM | 1 Like Like |Link to Comment
  • Bank Of America: Intrinsic Value $26 Per Share, Upside Potential 60%+ [View article]
    Nicholas P. Cheer

    There are two thing wrong with your comment for most peoples investments
    1] the S&P 500 like other indexes change there contents so the S&P 500 of 1995
    is not the same as today.
    2] When ever you buy an index the top half is dragged down by the bottom half of the index yearly.
    Now index funds have a place within a portfolio, however if you follow the dogs of the DOW you'll note they did better than staying within the Dow.
    The other problem is liquidity unless you invest 50k in an issue you take a large haircut before maturity.
    If you pick good stocks and trade them according to the individual tax requirements of that account you usually do pretty well.
    Mar 25, 2015. 08:21 AM | Likes Like |Link to Comment
  • Bank Of America: Capital Concerns Driving Share Price Down [View article]
    fun fun

    I guess you lost the survey that BAC came in last seeing you didn't add it to your comment.
    today I did a buy/write at a cost of 14.94 for 1/15/16
    if all goes well that's over 15% gain. it will be interesting to watch this will give you a chance to say I told you so if your predictions hold
    Mar 24, 2015. 07:51 PM | 3 Likes Like |Link to Comment
  • Congress Owns These Stocks, Should You? [View article]
    USER12841331

    What's really mind blowing is that the general public has no idea about trading or investment in general.

    I wonder how many on SA knows that WFC according to JDPOWERS April 2014 survey said WFC was LAST in customer service.

    And I wonder how many will look at next months survey.

    You should also note if no one issued press releases the MEDIA also wouldn't know about investing either
    Mar 24, 2015. 05:58 PM | 3 Likes Like |Link to Comment
  • Bank Of America: Capital Concerns Driving Share Price Down [View article]
    fun fun

    Care to name the company that took the survey?

    BY the way April 2013 JD POWER RATINGS
    Charlotte-based Bank of America improved its ranking to second-worst in the J.D. Power & Associates Retail Banking Satisfaction Study, released today.In last place? Wells Fargo

    That's right the one you said was a superior well run bank WFC

    Merely reviewing the banking world.
    Mar 24, 2015. 03:22 PM | 2 Likes Like |Link to Comment
  • Bank Of America: Capital Concerns Driving Share Price Down [View article]
    fredlukens

    it called a bailout because the left does want to acknowledge their people were the main reasons for the melt down. They don't want to acknowledge that Cisneros (DEM) HUD director started the ball rolling with changes to the regulations. That Clinton repealed the Glass Steagall Act. Or that Carter started the Community re investment Act. Every time they adjusted these acts for the "benefit of the poor" they screw the middle class as an unintended consequence. Just think of the TBTF remedy called Dodd Frank
    by the two lefties that left Congress, in 2012 it passed 8800 pages and was expected to reach 30,000 by the time it's completed. The unintended consequences by this act was to guaranty the top level of big banks they will have no real threat from the superior regionals, therefore no real competion
    Mar 24, 2015. 03:19 PM | 5 Likes Like |Link to Comment
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