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No. of Recommendations: 16
The correct conclusion to draw from the amount of "guidance" they provided is that they are very carefully managing earnings results -- something BTW that the company has full ability to do given the mix of their businesses.

I dont think thats right at all and to apply the word 'correct' to an opinion is pretty arrogant and rude.

Moving on to what you said, any company has the ability to manage their results - they can sell or not sell! re BAC, do you honestly think that they wont loan a company money or advice on an M&A deal or send someone money for a house if (i) the client/customer is creditworthy and/or (ii) they have the capital to do so?!?

My take (note: am not implying that my view is 'correct') is that management are managing expectations NOT managing results. The CEO/CFO's retpuation was hit badly a ocuple years ago when they applied to increase the dividend and told the market that they had done so, only yo then have it rejected by the Fed - hence they've not guided the market on this issue this year. Similarly with earnings, I think they're trying to conservatively guide the market such that expecations arent too elavated and they can easily hit them - I think they want to try to rebuild their reputation as being able to deliver
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