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Bank of America Corporation Message Board

  • nasa_rs nasa_rs Jan 26, 2013 1:37 PM Flag

    Why BAC will be at $13 in weeks


    Simple, do the math if it were not for lawsuits (16 and 6 cents) the stock would have earned 25 cents this quarter. As much as the Shorts and Idiots would like you to believe that lawsuits are forever truth is most are over it is just two intermediate lawsuits, then wrapping up much smaller ones.

    25 cents a quarter eps plus additional cuts to expenses and improved home loans (only starting to loan again) and this thing earns 35 - 50 cents a quarter (negating big lawsuits), and upward from there.

    There is a reason why it went from $5 to $11 and why it will go from $11 to $30.

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    • " it is just two intermediate lawsuits, then wrapping up much smaller ones"

      Could you please tell me what are the two intermediate lawsuits, and what else of the smaller ones...... thank you.

      • 1 Reply to eaglefryhigh
      • "We currently estimate that the range of possible loss for both GSE and non-GSE representations and warranties exposures could be up to $4 billion over-accruals at December 31 compared to up to $6 billion over-accruals at September 30. This decrease is the result of our settlement with Fannie Mae and the range of possible loss now principally covers non-GSE exposures."

        I stripped this out of the 4th quarter conference call. The rest of any potential losses are already reserved for if I am interpreting this correctly...non GSE = MBIA and "other private investors" I believe...

    • next week $13 if not more.

      Sentiment: Strong Buy

16.09+0.08(+0.50%)Aug 29 4:04 PMEDT

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