This where most newbies to investing do not understand. They say a p/e ratio of 20 is too high for a bank. What they do not understand is BAC is still below its normalized earnings and until that happens the growth rate in earnings will be extraordinarily high thus it should have a higher p/e ratio until earnings are Normalized.
Nice post. It is good news that JPM settled for less than the $13 batted around in the media. But you mentioned, the minute this is annnounced you will see the stock pop - are you referring to the FNMC negotiations or the $8.5 billion AIG lawsuit?
All the Obama Drones come on this board hate the banks that is why you get the thumbs down.
BAC is going to either pop up or down big time once the $8.5 billion AIG lawsuit decision by the judge is made public. Today is the last day of the trail after that our fate lies in the balance. Thus it will either be $18 or $12 by the end of this year.
I was not sure if it officially ended today for the lawyers. I would assume that it is up to the judge now. Does anyone know if the lawyers wrapped things up today?
The stock will either jump UP or DOWN as a result of the $8.5 billion AIG trial. We should have a decision by the judge by Christmas time.
Adding, Researched news stories only I could find was a stronger job market (has to be due to government manipulation) but not going to complain as I like the result bac finally moving back up.
This whole Obamacare thing is so funny even Hollywood could not write something so funny. Now the president is about to the same thing all over again letting in tens of millions of people into the country. He is about to put america six feet under all the while telling everyone it is for their benefit and the american voters all go all with his failure, after failure. It is just so funny. Not to mention Obma has never done anything successful in his life except run for president (his unique abilities to constantly lie gurantee his success).
When he said you did not make that, you did not build that... when it comes to that Obamacare website he is absolutely correct. He did it!!!
Not to mention his plan that increases rates for middle america (I knew it would all along) is really going to shock people. Who cares about the cancellations the simple fact is the government's new requirements have drastically increased healtcare costs even though he lied (once again) and said it would save people $2.5K.
I am getting a kick out of people, the voters, getting exactly what they deserved - fleeced!
Now he wants to let in tens of millions of people who are immediately going to get free healthcare, food stamps and everything else. He is going to finish the country off and I find it hilarious.
GW did not have any Street Smarts and the country got taken to thecleaners.
BO has had a master plan that he knew he had to blatantly lie to implement his Socialist/Communist agenda at any cost.
Options999 very well stated.
One would think everyone would know what you stated but very few do. The harder Congress makes it for banks to make a profit the less growth we will have in the economy - can someone tell BO and Congress too.