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Charles100

Charles100
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  • Rebuttal: Bank Of America Offers A Lot Of Value To Investors [View article]
    On BAC:
    Mr. Moynihan certainly did an outstanding job taking over when he did.
    Legal issues are not in the rear view mirror, and his cost reduction continues apace and is keeping the bank competitive. The bank survived.

    The ML continues to grow and is becoming more like its former trustworthy self, appealing surely to aging baby boomers for their growing retirement funds.


    OK, the bank may be not as good as WF or JPM on most banking metrics, but then again, all those fines resulting from mostly its disastrous Country wide purchase and ML gone badly wild, is a testament to his skills to-date.

    Going forward, interest rate rises may not be as fast as wanted, but then again the bank is now, as is, solidly profitable, and that the bank can now fully compete with its wealthier peers, is promising. (the banks still earns lots service fees from various activities that pay the bills, with manpower becoming more efficient.) Even though banking is getting ever more competitive, I'm not worried, given that everyone wants their financial interest managed by a sound, professional bank, BAC increasing qualifies and is viewed as such.

    As other pundits have said many times, the stock is cheap, as its coming back from a near death experience. Continuing along its existing path, and even without much help in interest rate raises, the bank's stock price should simply revert either to the mean of its peers or that of its previous ratios, meaning under the existing business climate, the stock will climb.

    Looking forward, investors should expert higher dividends, some buy backs, and eventually a slight boost from increasing interest rates/spreads.

    As for account adjustments, well, they seem a fact life in many banks, not just BAC. Given its recent tumultuous period and large number of new rules, I can understand how its accounting department has had trouble keeping up.
    Jun 19, 2015. 11:33 AM | 4 Likes Like |Link to Comment
  • Credit Agricole On A 3 Legged Stool Of Greek Debt, Italian Sovereign Debt And Insurance [View article]
    I've been a customer of there's since 1990, mortgage, etc. They are a very good bank in France, its their foreign investments that did them in. Otherwise they just generate profits that they wouldn't know what to do with.
    Apr 16, 2015. 11:45 AM | Likes Like |Link to Comment
  • Credit Agricole On A 3 Legged Stool Of Greek Debt, Italian Sovereign Debt And Insurance [View article]
    CA, without it foreign divestitures, would be rich indeed. It haplessly lost incredible sums of money in Cyprus, Greece, Portugal. One wonders how these investments were so bad. (I guess the naming and vetting of CEOS by the French Government/Ministry of Finance as the basic cause?
    Apr 14, 2015. 02:09 PM | Likes Like |Link to Comment
  • Bank Of America: The Inflection Point Has Arrived [View article]
    yes, I agree this about the inflection point. If you believe in "buy low, sell high" this would be about the right time to get in, at a very low risk. It presents great value, for value investors.
    The bank has finally a solid balance sheet, litigation woes resolved, (which came largely through poor acquisitions, not poor management).
    The bank is also leading in customer automation and cost cutting, the obvious trend in up and coming Banks.
    As far as the banking environment, the economy continues to improve, albeit at a slow rate, but that's ok, so that it will continue for a much longer this time.
    Even with low interest rates, its nicely profitable now, what more do you want?
    Apr 14, 2015. 02:03 AM | 2 Likes Like |Link to Comment
  • BofA reportedly cutting trading and investment banking jobs [View news story]
    Automation eventually will lead to lower cost for consumers. With the unemployment rate dropping, this could be a smart move.
    Mar 19, 2014. 01:06 PM | 1 Like Like |Link to Comment
  • BofA $8.5B mortgage settlement back in court [View news story]
    Really, its time to move on. Long and overly generous settlements/law suites are ruining business. Its time to stop it.
    Feb 19, 2014. 02:38 PM | 1 Like Like |Link to Comment
  • DOJ plans more MBS fraud cases in New Year [View news story]
    Although I would be among those to admit that banking deregulation went too far, its time to end this infinite litigation which serves no other purpose other than to support law firms.

    I recall, that:
    - most mortgage packages/securities were bought and sold by professionals, who were in a position to judge their worth (but not all did),
    - that the steeply falling economy lead to their drop in value, something that was not predicted, but is an inherent risk in any investment,
    - that many of these bundled loans have regained in value as the economy improves.
    Dec 5, 2013. 08:52 AM | 1 Like Like |Link to Comment
  • Bank Of America: Buy The Dip Now, It Will Not Last [View article]
    The bank is solid and well managed.
    Much of its unfortunate legacy is behind it.
    There is no reason it should not trade a similar ratios to its peers.
    Apr 18, 2013. 08:57 AM | 2 Likes Like |Link to Comment
  • "We're now at the point where it's about boots on the ground rather than the latest lawsuit," says SNL's Nancy Bush as Bank of America (BAC) CEO Moynihan summons 100 of his regional chiefs to a private meeting where they'll be egged on to move more product. The bank, she says, is notable for being "lousy" at cross-selling. [View news story]
    Cross selling of banking services through BAC various activities is not going to be easy, especially with the growth of internet banking. With interent, everybody's selling everything.
    Apr 3, 2013. 08:12 AM | Likes Like |Link to Comment
COMMENTS STATS
9 Comments
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