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Bank of America Corporation (BAC)
NYSE - NYSE Delayed Price. Currency in USD
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WOW, Dow down 660 and BAC hasn't moved lower. Looks like strong support around $24.20.
Question, is BAC a safe stock? Considering, BAC makes $20-$30 billion annually, is growing organically 5-7%, will be returning 100%+ of capital back to shareholders over the next 4-5 years, increasing their dividend 10% and wants to return to being a dividend king. Oh and is yielding 2.90%, Pssss, that's better than a 10 yr Treasury and is as safe (under my rating system). Buy backs will reduce OS shares to 4-5 Billion in 4-5 years, that in turn will increase either the dividend yield or the share price. So in 4-5 years BAC SHOULD have approx 4 billion OS shares and earning $30 billion (Assuming NO growth) giving BAC an EPS of $7.50 per share. Again I ask is BAC a buy?
A london covid model estimated in March 2020 there would be 2 million US dead IF no one in US did anything at all. IT was a very, very poor model. The model assumed NO SOCIAL DISTANCING by ANYONE.
No mask wearing by ANYONE. Not one person in US acting differently as people died around them.
Not a good model at all.
God Bless those that wore masks and social distanced, saving the US from a far worse death toll.
Now only if some leaders and their supporters would get a clue and start wearing masks instead of mocking them.
God Bless those governors that withstood pressure and threats to keep their states safe and closed when necessary.
GDP is expected to be up over 30% for Q3. To late to help in the election but should be a boom for stocks.
Down $.60 (2.50%) sort of oversold on a daily basis.............just saying
BAC is a good US bank to buy with a great dividend rate of 3.05%. Well managed and very profitable.
As publicly disclosed from SEC that Warren Buffett - Berkshire Hathaway bought BAC from 7-20-2020 thru
August 4-2020, price range from $23.51 to $25.24. During this period, Berkshire bought a total of 1,032,852.006 BAC shares.
BAC is a long term holding for a serious income investor. BAC price will shoot up to $38 in no time.
Should start accumulate BAC shares.
On Sunday's most highly rated 60 Minutes show, Trump threw a tantrum and walked out. Afterwards, Leslie Stahl received a copy of Trump's fake health care plan. It was filled with briefings and directives, but contained nothing about health care! No wonder stock investors are selling!
Best friend works for the DNC. Internal polls internal poll shows Joe behind nationally by -4 and in battleground states by -5. Trump leads in Ohio and Iowa at +5, Minnesota and Wisconsin +3 Pennsylvania +1 and Florida +6. Trump is tied in Colorado, North Carolina, Michigan, and Nevada. Biden leads Virginia with +1 which is absolutely incredible given the demographic of DelMVa. So much for fake media polls that show Biden up everywhere by +17!
Even though Trump will be president until Jan. 20th, the economy may yet be locked down out of desperation if the virus goes completely out of control.
Trump will blame everyone but himself.
BAC received an upgrade today 10-15-2020from a five stars Oppenheimer investment research firm - to Outperformed- price change upward to $38 from $37 .
"Analyst Actions: Oppenheimer Adjusts Bank of America's Price Target to $38 From $37, Maintains Outperform Rating.
"BY MT Newswires
— 10:24 AM ET 10/15/2020
10:24 AM EDT, 10/15/2020 (MT Newswires) -- Bank of America (BAC) has an average rating of outperform and price targets ranging from $22 to $38, according to analysts polled by Capital IQ.". "
In addition, BAC is one of Warren Buffett - Berkshire Hathaway TOP HOLDINGS.
With yesterday (10-14-2020)'s price drops it appeared to be a great opportunity to buy a great US bank at a deep discounts while collecting a good dividend of 3.05%.
Remember Buffett bought this stock with and average of $24 in recent months. I doubled down on this today, will hold it. It is a good opportunity to buy a safe bank stock imo.
I would like to know how Obama would have handled the virus. Any Pres would have been under major pressure facing the impact of an epidemic like this. Trump listened to the experts early on and went with their projections. Fauci said there was little chance that the virus would reach our shores. When the number of cases began mounting, the "experts" had to make a more fervent warning, and it was too late.
Bank of America, American Express, MasterCard, Visa, Moody's, US Bankoff, Wells Fargo, Barric Gold, Berkshire Hathaway, etc...
These financial stocks or credit rating companies are now at historical lows
It is because of a special factor known as'corona' that everyone knows.
This situation will not last forever.
If the situation normalizes, the stocks mentioned above will not remain at their lows and will regain their position or higher.
It is common knowledge that everyone should buy when the stock price has fallen, not when the stock price has already risen.
Many people are willing to buy at the highs and reluctant to buy at the lows
Knowing that it's the wrong choice
Eventually, the market situation converges from the wrong choice to the right choice.
Wise People Will Make the Right Choice'Right Now'
Federal Reserve Chairman Jerome Powell said Monday that the Fed is open to collaborating with the private sector on a possible digital U.S. dollar, but reiterated that the central bank has not committed to actually launching one.
Once again, our beloved BAC stock is sinking, along with most other stocks. This Trump Bear Market is taking no prisoners! However, my only stock going up today is NYT! Sure, it's a slight gain, but NYT investors understand the important work NYT does in protecting our fragile democracy!
Sippy Cup News:
So far the U.S. budget deficit exploded by $3.1T in the 3 months after covid shuttered things. And the national debt meter spins like a "pedal to the metal" auto.
So far the total we owe is now $27.1T. So far. There are still 2.4 months to go in the year.
America has spent 90% more than it collected in revenue.....okay..call it what it is...taxes.
Think we have a problem do you? Think you know what will happen next, after the election regardless who wins?
And here's the giggle. The above? That number excludes the $100T in off-balance sheet obligations we American's owe
But never fear all you Robinhood newbi's, you can trade your way to financial nirvana!
Just be mindful of the hackers prowling who, as of last count, got into over 2,000 of your accounts and stole your money.
Robinhood has been very quick with the no response to this.
And I suspect this is only going to happen more often since GSCO warns of more job layoffs as jumbo merging continues.
The Fed and politico's shovel ever more money to the corporate state, the elephants mate and average America gets shoved off the bed. Booming tent cities are the "thud" of you hitting the floor.
But not to worry Wall Street is set for it's first $100B trading year in a decade. Ain't'cha happy about that?
It's gonna get better.
The Fed, who's been so competent in managing the economy, now wants to totally manage your wallet with a digital dollar. That's right!
You don't need no nasty physical currency, or precious metals. Go digital baby! Trust the Fed, they'll take care of you.
They'll take care of EVERYTHING!
The 10 yr moving close to .82% as rates move higher. Expect the 10 yr to head higher as the market is expecting the Dems to win, meaning they'll spend more which, means more borrowing to drive rates higher.
Dow dropping, down over 800. BAC holding strong above $24.20.
Bank of America (BAC), Wells Fargo (WFC), Citi (C), and a host of other mortgage companies are looking at roughly two million potential residential loan defaults starting in January. Another million commercial real estate loans are about to go into foreclosure as well. Office space lease rental rates are crashing and landlords are unable to to find tenants with the new "Work from Home" paradigm locks in. Loan loss reserves are high but can they cover losses of this size? The Fed has preemptively bought $3 trillion in questionable paper from the banks and corporations so far during the pandemic. 22% of M2 dollars have been created since March of 2020.
Real interest rates on savings are negative by roughly 2% as inflation eats away buying power.
History does not repeat itself, but it sure does rhyme...
In January the deferral of rent and mortgage payments comes to a halt and with nine months of deferred rent or mortgage payments/penalties due, it's going to be like hitting a wall for many who can not re-finance or make continuing forbearance deals with their banks.
They said "No one saw it coming" last time the housing market crashed while we had a "Lame Duck" President. Can they say that now? I think not...
Where's the money to be made? The Volatility index? Gold mining companies? Shorting MBS's? Consumer products like Campbell's Soup (CPB)? Bonds? Munis?
The old rule was that 90% of portfolio's stay in the market or cash. 10% go into gold or gold mining companies. But right now, that ratio is more like 98/2%.
Companies like Yamana (AUY), Newmont (NEM), Eldorado (EGO), Kinross (KGC), Barrick (GOLD) have all rallied strongly but remain underheld in portfolios per historic levels. At least many of them pay sustainable dividends.
I do not have all the answers but there are some burning questions here...
#BAC #WFC #C #CPB #AUY #KGC #NEM #EGO #GOLD
Stand back and try to look at the big picture.
BAC will Earn over $20 billion this year.
That's approx $2.30 a share. At a PE of 11 brings BAC to $25.
On the call, BAC stated they like to maintain a CET1 reserve of 1% in excess of the 9.5% required.
That means $35 Billion is primed to be returned to shareholders. This will increase each qtr until it is returned.
The economy is improving.
Interest rates are expected to move higher slightly over the next qtr.
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