(grin!) Actually, I don't have anything against Michelle Obama other than her making the school lunch program worse than it already was. She didn't deserve my swipe, above. Sorry, Michelle !
"There are a ton of tax free mutual funds that pay a solid 5% income"
lol yeah that are FAR over par and probably charge 1.52% fees yearly reducing your actual income to like 3%. Not to mention the indirect risk of mutual funds in general, or drops in value if rates go up. I own a risky bond fund that invests in junk-related stuff. It pays me 4.25% takes a 1.52% fee. You won't get higher rates easily without more risk.
BAC is UNDER TANGIBLE PAR by 20%, pays 2.2% from today's price per year, has government backing and status updates so you know everything is on the up and up, and on top of that does not factor in most of their enormous earnings that may grow if rates inch up (currently used to retain and buy back stock.
So this thing supercedes a mutual funds value hands down, period. I don't have to pay fees either. Do what you want.
Fundamentals mean absolutely nothing and the thieving JewRats use their QE billions to make sure Retail never recovers.
Oh you mean like 50% HFT that has no general relevance. You obviously know nothing about the market. Maker makers must balance supply and demand, prices usually plunge or spike when there are temporary imbalances. Long term holders, buybacks, and div reinvestment by nature almost guarantee higher prices consistently through the year.
Personally I don't care what you or the market thinks. I am fine holding my shares until 2020. Those who can't or are super sensitive about day to day should sell because they are traders not investors. Take your profits and move on if you're a trader.
Investors have no problem ignoring day to day, collecting 2.2% this year, watching tangible book go up another 40 cents this year to 16.50, watching another 300mil shares get bought back and so on.
The current price can do whatever it wants. Long term the facts are quite clear. And my money is neither scared nor impatient.
Want a winner? Check out ultimatestockalertss (search em) if you are looking for small cap stocks
before the big run. He has alerted me to a bunch of stocks before they took off.
Lmao!...................Now now lib troll, you already won the stupid award for sub-human democrap rat trash......Don't be a boggart now ya fool!
BAC as per history will be buying at VARIOUS ranges. $13 last qtr, $17.50 avg the qtr prior etc. Historically, you could most likely buy at $13 and sell to them at $18. I'm sure they consider all shares under $20 quite cheap lets be honest.
Wonder if BAC will still be $3.30 below tangible? Yeah..probably....that seems to be the way of things. Meanwhile...what're the odds Master closes the Pooch, tomorrow...down around $13 just to make merry with some Options? Dow up over +200pts at this writing. All banks get a sanctioning kiss...so where does the Pooch sit? Flat. It figures....no...what...bid $13.22!? Weee..we're up TWO PENNIES! Break out the party hats! Jeeezus...
you're so off-based. so many sectors stay overvalued for years then all of a sudden explode when nobody expects it back to fair value. Given it's only been 6 years since the crisis, people need to warm up that's all, Buffett knows it too.
333M shares is huge when 64% of the entire float is held by institutions. Not to mention you're talking about OVERALL, meaning the price may jump to $19 during half of the buys thenf all to $13 during the other half.
The catalyst is eventually the undervalued nature will adjust, whether it takes 2-3 years is irrelevant. Interest rate rises will push up earnings significantly. Div will gradually increase over time then explode higher by 2020 as will buybacks most likely.
Also the market is not in agreement with anything yet. It's been 3 damn days since $12. Nobody is gonna remember June 27-June 30, this is 3 days in the scheme of years. BAC could fall $1 today and it would make no difference, I'd buy 2k more shares probably.
Again, timing is irrelevant. Why own a portfolio if you care about day to day moves. Collect your 2.2% div here and wait 4 years, end of story. You buying at $4 or whatever was incredibly risky/ballsy (like Buying Siri at .10) but I salute you, but wake up. This is a LONG TERM HOLD. ignore the nonsense day to day, They are improving and the Fed says they are super strong, end of story. Hold til 2020. Collect Divs, Wait.
"clinton has 79.6%probability of LOSING"
Got a source for this other than your tidy whities?
It is indeed.. All one has to look at is the low life failures ranting that they want hillary. Then vote the opposite. Like you stated, its the best endorsement for Trump!
The credit card industry settlement was rejected, today, - - a little while ago. Which probably accounts for the price of BAC subsiding this afternoon.