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  • Bank estimates cut at Sterne Agee [View news story]
    This recap fails to mention that .21 of the .28 estimate reduction for BAC is due to the legal putback from the FHFA settlement i.e. a one-time charge. No impact on income going forward.

    This recap implies the brunt of the reduction is due to deterioration of the macro environment, which is simply not the case.
    Apr 8, 2014. 01:49 PM | 5 Likes Like |Link to Comment
  • The Next Big Embarrassment For Bank Of America - Another Lawsuit [View article]
    "before more allegations of fraud arises"

    Apr 2, 2014. 09:27 AM | 1 Like Like |Link to Comment
  • Bank Of America Settles For Billions, Significantly Reduces Income To Pay Dividends To Shareholders [View article]
    How dare you let the facts get in the way of a good story!
    Mar 28, 2014. 01:43 PM | 7 Likes Like |Link to Comment
  • BofA boosts dividend to a nickel, sets $4B buyback, settles with FHFA [View news story]
    You're right. Stock only up 40% in the past twelve months <slaps head>.
    Mar 26, 2014. 05:15 PM | 19 Likes Like |Link to Comment
  • BofA boosts dividend to a nickel, sets $4B buyback, settles with FHFA [View news story]
    You mean Goldman Sachs' evisceration of BAC's prospects for capital return from a few days ago turned out to be a totally inaccurate hit piece?

    Wow, imagine that.
    Mar 26, 2014. 05:12 PM | 13 Likes Like |Link to Comment
  • Why Bank Of America's Projected Dividend Increase Is Only The Beginning [View article]
    At the point where BAC hits $20 the analyst targets will have moved north of $25, ensuring a new round of buyers that will more than offset the sales of those taking profits.

    The flip side of cutting your losses is to let the winnings run, and with the yield curve set to expand, an economic tailwind, and a rising dividend, $20 will be far from the end of the line for BAC.
    Feb 25, 2014. 01:58 PM | 2 Likes Like |Link to Comment
  • Bank Of America: Will The Stock Take Off Now? [View article]
    Yes, by all means short the financials in an expanding economy.

    At least you won't have to worry about depositing your gains in those big bad banks, as you will have none left after being crushed by your shorts.
    Feb 20, 2014. 07:01 PM | 9 Likes Like |Link to Comment
  • Bank Of America: Will The Stock Take Off Now? [View article]
    There are no additional outstanding cases brought by AIG against Bank of America. I assume you are referring to the $10 billion (not $9 billion) fraud case. Bank of America won a full dismissal of that case in November 2013.

    The libor case is small peanuts i.e. a worst case scenario of $800 million in fines spread across 12 of the major banks, with BAC likely having the smallest liability of the bunch.

    There are no other outstanding legal issues against Bank of America beyond those the bank has already reserved for.

    With all due respect you are looking for monsters under the bed that are simply not there.
    Feb 20, 2014. 04:40 PM | 12 Likes Like |Link to Comment
  • BofA $8.5B mortgage settlement back in court [View news story]
    Per Bloomberg: "Today, Justice Saliann Scarpulla, who took over the case, said she will not delay entry of the settlement, which will be made effective “expeditiously,” she said."

    In other words, I got my head handed to me so I will now be following the rule of law.

    Don't hold your breath waiting for this item to hit the wires. Any good news concerning BAC is systematically buried, while perceived negatives are breathlessly shouted to the rooftops.
    Feb 19, 2014. 01:32 PM | 5 Likes Like |Link to Comment
  • Our Bank Of America - Probed For Front Running [View article]
    Don has worked his magic again. After being sold hard most of the day, BAC has turned positive in a down market.

    Keep up the good work buddy!
    Jan 31, 2014. 02:45 PM | 2 Likes Like |Link to Comment
  • Ruling on BofA's $8.5B MBS settlement coming soon [View news story]
    BAC stock holders, assuming the ruling allows the current settlement to stand without modification (the result many expect at this point), be aware the media will quickly spin this as a negative outcome for BAC e.g. an $8.5 billion penalty. DON'T FALL FOR IT.

    The company reserved the $8.5 billion in full back in 2011. In other words, a ruling upholding the current $8.5 billion settlement is hugely positive for BAC and means NO ADDITIONAL OUTLAY.

    Do not allow a drum-beating media to shake this stock out of your hands at a hype-induced discount!
    Jan 21, 2014. 01:55 PM | 7 Likes Like |Link to Comment
  • Bank Of America - Unlike Competitors, This Major Bank Reports Top Line Growth [View article]
    You appear to be looking at ROE in a vacuum, leading you to a spurious conclusion in regards to fair value. I have read and re-read your analysis and see nothing to support your thesis that the stock is fully valued. On the contrary, based on the figures in your own analysis, there are a number of conventional valuation metrics (e.g. tangible book) suggesting there is still significant upside in share price from these levels. Make the same case when the shares reach 2.0x tangible book (which they undoubtedly will) and I think you'll find a lot more takers.
    Jan 15, 2014. 01:55 PM | 2 Likes Like |Link to Comment
  • Bank Of America Should Trade Below Book [View article]
    Interesting and well-reasoned analysis. But as you yourself point out, "...investors may believe that Bank of America should be worth at least its book value..."

    Assuming they do, your empirical analysis notwithstanding, the stock is going higher.

    To wit, it's not a function of what the stock is actually worth, but what investors think it's worth. If this were not the case, Amazon would trade at $25 a share.
    Dec 11, 2013. 04:32 PM | 4 Likes Like |Link to Comment
  • Bank Of America: Still A Great Option To Invest [View article]
    100 Billion? Get your facts straight. Liability for Article 77 and AIG, the two largest pending actions, have been fully reserved. Incremental losses in a worst-case scenario are $10b - $15b, and in both cases that appears highly unlikely.

    Even S&P, a leader of the bash-the-banks parade, acknowledged yesterday the banks will experience no impact on a going-forward basis.
    Nov 27, 2013. 10:06 AM | 3 Likes Like |Link to Comment
  • Bank Of America: Fully Valued At $15 Per Share [View article]
    The preponderance of these 'dead money' articles signals the next leg up. Keep 'em coming fellas!
    Nov 21, 2013. 12:14 PM | 5 Likes Like |Link to Comment