He diverges like his mentors and does not account for positives for BAC. when you look at only negatives it is not balanced.
like schiff not even factoring in the housing bill and other significant developments to the housing situation. I notice also no numbers on how he is factoring in his continued slide to 2000 levels... - he seems to assume no property value appreciation since 2000 which is a very poor assumption for modeling the bottom. no time length to his predictions -very vague.
I think we see about 10% decline or less from here and we are within the BAC parameters for the housing bottom and afterward a slow appreciation in real property values.
that and not talking to BAC risk and exposure specifically and their provisioning and loss mitigation strategy is a huge lapse and leads to undervaluing and underestimating the strength that BAC certainly has in the biggest market in the world...
huge mistake to paint BAC with a broad industry brush...
Nice, no stats, no references, after you try to criticize same.
Read my posts, I have made my case very clearly with plenty of references.
Where'd you pull that 10% number? Out of your ass?
If you knew economics you would realize that even if home prices go up their owners can be a lot poorer! I predict that the only way real estate will go up is in a hyperinflationary environment, which is no consolation. You have to price things against gold, oil etc to see true value.
This is a thrid world country now whether you believe it or not.
A housing bill? All that is doing is adding to our debt and ruining the dollar!! You are falling for it? You think it's gonna help? Wow.
Maybe because they used discount window loans from the fed to buy their own shares? Maybe because Paulson and Dubya are depleting Fort Knox? Maybe because americans can't think for themselves and don't understand economics and inflation. Maybe because it takes quarters and years and decades to invest and it'will take a while for things to get as muymalo as I predict even though you have the patience high school boy at prom?