I think even $1.50 is too much for this company. How many times they have made offer : $20+ and stock went to 3. Even singapore fund has left and took its loss from buying $4.7B to selling $1.4B.
I think this company may be fixed with one option : 1) Asset prices have to rise very quickly. 2) employer should increase pay more for high inflation.
I think as long as unemployment is high ,both cases are not very likely and there is feedback loop which will linger for many years and stock will be much lower than today. How many times have you seen all companies from "2001 Bubble" have recovered. 1) NT went to $8 after economy recovered and went to 0 now. 2) LU went to $7.50 after 0.56 cents and went to ALU for $2
In my eyes , BAC will be : 1) Around $2-$10 range for next three years atleast if it survives. 2) Worst possible case , it could be BAC federated.
Illusion should not be the part of investment. Most of the analyst/investors/govt. are living in big "Recovery Illusion" and things will be much worse from july onwards for this world when reality will set in.
Don't worry I think people are referring to 1933, I think it will be much worse than that and look for real recovery only after 2016.