Bank of America (BAC) BAC announced earnings too, and things there are looking interesting. Like other banks, there is a problem with NIM pressure. But the investment bank / brokerage business seems to have done really well. I won’t go into any details here, but I just want to jot down what I was looking…
Tag: BAC
Financials Still Look Good: Part 1
JP Morgan Earnings So JPM announced earnings and things look pretty good to me. Sure, there is still steady NIM pressure and this will be an issue this year too. I think they said it will be a $400 million or so headwind in 2013. But otherwise, things look pretty good. I know people say…
Merrill Doing Good, What’s Wrong with GS?
Bank of America announced their earnings and it looks OK. Of course, there is still an issue with low interest rates and loan growth like at other banks. This is not intended to be a full recap of BAC’s second quarter. I don’t want to comment on every quarterly announcement of companies I talk about…
Stubbing Bank of America
OK, I have to stop with these misleading post titles. You can’t really do a stub trade on Bank of America (BAC) as a stub can only happen when the piece you want to back out is publicly traded. Anyway, with News Corp breaking up (after repeatedly saying it’s not going to happen) and many…
Taking a LEAP into BAC
So I did mention that I bought BAC (Bank of America) LEAPs earlier this month. I am a big fan of financials at these prices but haven’t been the biggest fan of BAC. Goldman Sachs (GS), JP Morgan (JPM) and Wells Fargo (WFC) are much better managed, much solider firms and are very cheap (especially GS now…
Financials Still Cheap
The financials have really exploded this year as unemployment and other economic figures continue to show some decent recovery. Europe doesn’t seem like it’s going to blow up tommorow. China seems to be going into a hard landing but China might be a laggard to what has happened in the U.S. and Europe in the…
Cheap and Cheaper
I know, this is a broken record blog. We all know financials are cheap and we all know there are plenty of reasons why they are cheap and why they might be right to be priced cheap. However, I tend to still like the well-managed financials. This is laughable and I don’t mean to suggest…
Bank TARP Warrants
One legacy of the financial collapse is the series of long term warrants on the banks that received TARP money. When large U.S. banks received TARP money from the Treasury in 2008, they also issued warrants on the shares of stock to the treasury department. The Treasury then sold the warrants to the public when…