That is just a guide... compare it to other banks and get a notion or relative value.
What you really need is to go over the financial statement from 4th Q '08 and then read the news development since. But we are so close to the 1st Q '09 results that many people are going to hunker down and wait for that (I am doing that exactly).
Someone published a time line for April that could be useful too.
BAC's book value is $11. This was revealed in an interview with David Ellison, Chief Investment Officer, FBR Equity Funds. The interviewed appeared on Barron's. If you don't have access to view the full interview, here's a copy: http : // www. gurufocus .com/forum/read.php?2,51633,51633 However, this estimate may not have taken MER and Blackrock (BLK) value into account.
I always thought that Book value per share is a ratio that is calculated by subtracting all liabilities from all assets, then dividing the balance by the total number of outstanding shares or equivalent.
Yahoo has BAC for $27 per share, then I presume YAHOO has the wrong data.