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Bank of America Corporation (BML-PH)
NYSE - Nasdaq Real Time Price. Currency in USD
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As of 01:32PM EDT. Market open.
204,687 reactions on $BML-PH conversation
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Everyone’s an expert this morning. Lol. At least the political rants are down. ツ
Yep, it's a bear market. They happen every 10 years or so.
With that said, and many rip at me for being a constant investor, and there are many reasons I hold BAC.
One is the ability to trade around the core investment easily.
Two is the fundamentals. When the following bull rally is in full steam, 3-5 years from now, BAC will Triple from here.
The best financial in the market, and the high interest rates will push BAC to $5 EPS in 2 years.
2 thoughts, anyone selling or shorting here for this bear market are wrong. The damage is done, and it may go lower from market sentiment, but it is very near, and you can't go wrong loading up here. Last, BAC released a huge level of reserve in 2Q2021, which made EPS go to $1.01 artificially, which is giving BAC a negative YOY return, which is why it's this low. The real case is EPS and revenue is increasing every quarter, and in Q3 this thing will go to a massive YOU gain and BAC will RIP. You have until then to buy, but personally, if I had no position and wanted in, I would be getting in.
Mateys - I always try buying shares when it pulls back 5 to 10% from peak but not sure how but I ended up buying BAC at near peak of $47. And now with nearly 30% down, I wonder should I rebalance my exposure and also went through the Q1, and 2022 outlook and macro conditions. It still seems the market is over reacting/ predicting and BAC will continue to deliver. Here are some of my observations - please let me know if any flaws?
1) Consumer savings are at record high and will remain elevated, when compared to pre-pandemic levels despite inflation. Just within BAC, people with 1400 balance pre-Covid now have $7000. This is consistent with overall banking industry.
2) While inflation is growing, so are wages, but admittedly not evenly in low-income groups.
3) While there will be a risk of defaults and delinquencies, but seems they will be contained/ minimal noting wage increase and deposit levels. Furthermore, this will be more than offset by NII and NIM expansions.
4) BAC has hedged AFS exposures, and now with rates rising, those assets can pivoted to growing loans book and attract NIM.
5) BAC banked 200m in Q1, and anticipates 600m in Q2 additional NII.
6) I would make a bet, M&A likely will resume some movement towards normalcy and trading will continue to provide profit opportunities. Again, contributing to better top line and bottom line.
7) Most important of all, they seemed to have better control on costs and all the prior year investment is paying off. So, it seems revenue and margin expansion and flat cost line = good earnings/ results for us?
8) There is the risk of their own cost inflation to surprise their cost estimates but I can't seem to find anything to validate this.
With this, all downside risk to economy, it seems to me BAC will still hold well & deliver. So, I am tempted to leave my position as is but wonder if am missing anything above. I can do my own research for banks down under, talk to people in the industry/ bank etc but I have to mostly rely on BAC's commentary here, which likely will have lot of kool-aid and hence my post looking for your views.
The really sad part is none of this market decline, inflation, soaring gas and oil, border crisis,shortages etc was necessary and all could have been prevented and still can be turned around. 401ks and savings are eroding and people are in real pain and suffering all because of you know who. The only good aspect of it is that the lefties have gone silent for a little bit.
Look at ten year return on BAC. Then you'll appreciate why Buffet owns a ton of it.
Seems to be some confusion about rates. The fed will raise rates on the money it loans to banks. So, the banks in turn, raise the interest on what they'll pay on deposits as well as increase mortgage interest rates. The fed will raise rates in order to slow an overheating economy. It will slow housing sales, slow business loans, and increase credit card rates all to slow the economy and, slow inflation. It doesn't have anything to do with printing money. The amount of cash in the system is measured by "M2" and is out of control. The cause of this was pandemic checks, low unemployment, and the fed buying treasuries by printing money. This has all stopped. The fed is hoping the result will be to slow housing sales, slow the job market, and slow the economy overall.
Took a while for Biden and Democrat policies to take hold, but results are painfully here and clear. Reversal of prior administration's policies are on full display open borders, war posturing throughout the world, rampant inflation, supply chain disruptions, and tanking economy. BAC's recent record lows for the last year provide evidence that policies have been detrimental.
It should be clear to most by now that raising interest rates won't work. Here is why: as nearly everyone knows, interest rates were very low for a long time. Raising them a 3or 4 times will still keep them low enough not to attract people in huge numbers to the banks to open accounts. It will discourage many from taking mortgages loans etc because they have to pay more and the whole country is already strapped from out of control gas, oil and inflation costs and of course spending as well. Printing more money is insane too as it just adds fuel to the fire.
All the talking heads on the business news want a recession. No recession in my area.
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Here's a basic reality. Government, all government large or small, has to be paid for. If the politicians actually cared for the People, they would not have spent the Peoples money like drunken sailors. But no. We have reckless politicians, from both parties, and we have a reckless Federal reserve, all of whon have allowed this massive growth in government, and now we have to pay the cost.
We either pay it with higher prices and inflations, or higher taxes, reduced benefits and entitlements of all sorts. There is no other way.
Yet our pampered privileged leadership class in this country will not admit this. They won't take responsibility for what they have done. They will point fingers everywhere but at themselves. Certainly the Fed won't.
But you know what? None of it will matter. Inflation will get worse because there is no viable political way to deal with it. And we don't have any leaders with the balls to pull a Volcker, or anything like that. And as the markets begin to figure this out you see how they're voting.
Hope you've figured a way to protect your financial self, because nobody other than you has your best interests at heart. Have a great weekend.
I surprising bull market is emerging
More jobs being created today than at any other time in history
I told you last week that banks would fly like if they had 2 rocket boosters in the back, fueled by three 1/2 points interest rates this year for a total of 1 and 3/4points for the year. This is unheard of; banks will make a killing.
Soon as Russia surrenders gas prices will drop and the markets will raise.
Isn't Banks suppose to lead the way in a rising interest rates environment? Why aren't the banks moving up when they are predicting a bunch of rate hikes? Don't get it?
US Government should cease funding BIG OIL with tax abatements and such
I'm happy to see that BAC has a massive amount of branches in California, where the government is running a massive budget surplus ($97.5 billion budget surplus)! Unfortunately, BAC also has branches in Florida, which is running a massive budget deficit! However, that can be a good thing, because the low income folks in Florida still get checks from the government which they have to deposit in BAC branches!
Let's hope that CA never wants to separate from the USA! We need you, California! Thanks!
Go back and see who in the DC Swamp was short on Abbott Labs before the shutdown occurred.
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