Browsing articles tagged with " bank of america"
Last night, Brian Moynihan, CEO of Bank of America was on Charlie Rose and the interview made me want to buy shares of Bank of America. Why?
Well, the worst is over for Bank of America as far as legal issues. Of course, not entirely but for the most part, as they've paid out somewhere in the range of $30 billion. Plus, the economy in the United States is on the mend and housing has certainly bottomed out and is now growing. But it was just the way Moynihan talked about Bank of America and all that he's been
So I saw this powerful looking bull on TV today. And it looked so smart and strong that I just had to call up the bank associated with the bull. I think it was a bank. It was someplace called, "Merrill Lynch", it rings a bell.
In fact, I thought they went out of business or were bought out by another bank or had a CEO who bought really expensive rugs. Something like that. Anyway, the bull was just so beautiful looking and so pretty that I had to call them and have them manage my retirement money - you
Towards the end of the video below, banking analyst Meredith Whitney
said Bank of America CEO Brian Moynihan
is doing the non-sexy things, shrinking the business and selling off assets they don't really need, and Bank of America's stock is "cheap". Wow, who's joining Whitney's calling and buying shares of BAC?
When you consider the fact that Bank of America has lost nearly $100 billion on their Countrywide Financial purchase
, it's sort of a laugh that they then had to pay a fee of $335 million
to settle allegations that they discriminated against black and Hispanic borrowers.
What's more, it's a laugh since they were trying to dupe all customers more or less. They didn't care what you looked like they were ready to loan you money to buy a house since the housing market was only going to go up and up and up.
BofA has already
Shares of Bank of America dropped to $5.03 today, a new 52 week low. The bigger worry though is: will this be something we're going to be saying for the ensuing weeks to come? Will Bank of America continue to slide lower and lower each day? Will Bank of America go from a $5 handle to $4 to God for bide a $3? Will the Too Big To Fail bank finally fail? If it does continuing to fall it can't be good for the entire financial sector. Here's a ten year chart for Bank of America's stock. It's been a
What the hell, Buffet's not talk to Becky Quick? Who is this Poppy Harlow? Anyway, Buffett did a lot of buying in this past quarter, as in $6.9 billion worth of U.S. stocks
. Buffett of course is notorious for buying stocks when they're hated and then waiting five or ten years to sell those once hated stocks.
And in particular, at the beginning of the video below, Buffett says he'd buy U.S. bank stocks - one of the most hated sectors right now. Buffett has big positions in both Wells Fargo and U.S. Bank and then he got a
Nothing like supporting your employees. That's all they want from their leader. Perhaps Bank of America have the right man in CEO Brian Moynihan, after all, it must be hard some days working at the one of the most hated banks in the world. Smoke was coming out of Moynihan's ears when he addressed employees via a town hall meeting. You can understand why he's such a fighter for BofA though, all his net worth is wrapped up in the stock
“I, like you, get a little incensed when you think about how much good all of you do,
Stephen Schwarzman of the Black Stone Group delivered the keynote speech at the Alfred E. Smith Memorial Foundation Dinner, an annual Catholic charity fund-raiser named in honor of the former governor of New York. By tradition, the keynote speaker of the 66-year-old event is supposed to deliver a mostly humorous speech. Schwarzman does just that with a zinger of a joke aimed at Bank of America's CEO Brian Moynihan. It was all in good fun though.
“Brian Moynihan is here tonight. He’s the C.E.O. of Bank of America. As many of you know, Brian’s brother Patrick runs a Catholic boarding school
Well, I guess you have to give Cramer some credit, he's willing to suffer and endure pain, as he's still holding on to Bank of America's stock even though it's down to the $6 level and the most hated bank stock in the entire stock market. Actually, it's perhaps the most hated company/stock in the world. Cramer has said buying of Bank of America's stock is one of his worst investing decisions he's made in his entire career.
However, when the stock drops nearly 50% in just three months, going from $10 a share to a 52 week low of $5.13
Now we're talking. I love it when people get a bit riled up and start to say what they really think. Here, I think Bove is right. Moody's, ever late to the party, is make this call now, where were they three years ago when all the banks were failing apart? I don't think Ben Bernanke or anybody at the federal reserve would let Bank of America fail.
"That is so absurd I can't believe anyone would even write it. This is the largest bank in the United States," said Bove of Bank of America. "It has business with one out