Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
I still don't recommend BAC this year unless one is just interested in the attractive dividend yield. CFC's mortgage business has been reported to be worse than originally thought. BAC now has the dubious privilege of having all this bad business on their books, and can expect more and more defaults on mortgages and credit cards as we slip further into inflationary and recession possibilities. Indeed, it wasn't too long ago that I posted on Lewis bemoaning that even his most credit-worthy customers were throwing their keys at the bank without a second thought, unprecedented behavior. This statement was made before the CFC acquisition. BAC is now trading at around book value, meaning the smart money, the big money boys, the hedge funds, aren't pumping money into it.

JimBNorman
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.