At $9.85/share, Bank of America (BAC +2%) finished yesterday with a market cap of $99.8B - just...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

At $9.85/share, Bank of America (BAC +2%) finished yesterday with a market cap of $99.8B - just 49% of its $205.6B book value, Jonathan Weil observes. "As far as the market is concerned, more than half of the company's book value is bogus, due to overstated assets, understated liabilities, or some combination of the two."