Parsad Posted February 14, 2013 Share Posted February 14, 2013 Some fairly decent articles about B of A's legal issues (from Fool.com!): http://www.fool.com/investing/general/2013/02/12/the-single-biggest-threat-to-bank-of-america-today.aspx http://www.fool.com/investing/general/2013/02/12/b-of-a-bny-mellon-settlement.aspx http://www.fool.com/investing/general/2013/02/13/dont-overlook-this-multi-billion-dollar-b-of-a-ris.aspx http://www.fool.com/investing/general/2013/02/13/the-biggest-unknown-threat-to-bank-of-america.aspx http://www.fool.com/investing/general/2013/02/14/when-will-bank-of-americas-legal-nightmare-end.aspx Gokou, are all these written by you on the Fool? ;D Just kidding. Cheers! Link to comment Share on other sites More sharing options...
gokou3 Posted February 15, 2013 Share Posted February 15, 2013 Some fairly decent articles about B of A's legal issues (from Fool.com!): http://www.fool.com/investing/general/2013/02/12/the-single-biggest-threat-to-bank-of-america-today.aspx http://www.fool.com/investing/general/2013/02/12/b-of-a-bny-mellon-settlement.aspx http://www.fool.com/investing/general/2013/02/13/dont-overlook-this-multi-billion-dollar-b-of-a-ris.aspx http://www.fool.com/investing/general/2013/02/13/the-biggest-unknown-threat-to-bank-of-america.aspx http://www.fool.com/investing/general/2013/02/14/when-will-bank-of-americas-legal-nightmare-end.aspx Gokou, are all these written by you on the Fool? ;D Just kidding. Cheers! Of course not. Frankly, the discussions on this board are way more in depth and valuable, but it's also useful to have a quick summary of the various current lawsuits / issues. I have taken a half-position in BAC LEAPs recently. Hope it dips a bit before the CCAR result release and I will get into a full position. Link to comment Share on other sites More sharing options...
wescobrk Posted February 15, 2013 Share Posted February 15, 2013 Anyone know if we will get buyback news on march 7th or do we have to wait for the 14th on that? I'm wondering if the 7th will merely announce the pedestrian news that BAC passed? Absent any major news, stock should move 10% to tbv upon (or few days before) buyback announcement as the "dumb" money comes in. We saw it last year when the stock moved 25% on merely passing the test without asking for anything. Link to comment Share on other sites More sharing options...
Parsad Posted February 15, 2013 Share Posted February 15, 2013 Anyone know if we will get buyback news on march 7th or do we have to wait for the 14th on that? I'm wondering if the 7th will merely announce the pedestrian news that BAC passed? Absent any major news, stock should move 10% to tbv upon (or few days before) buyback announcement as the "dumb" money comes in. We saw it last year when the stock moved 25% on merely passing the test without asking for anything. No, the news starts leaking out early in the media. We may start to hear stuff as early as the end of this month! Cheers! Link to comment Share on other sites More sharing options...
StubbleJumper Posted February 15, 2013 Share Posted February 15, 2013 Curious that Francis Chou dumped a whole pile of BAC-WT-A. If somebody gets a chance to chat with him at the FFH meeting in April, I'd love to know his rationale for reducing that position. From my perspective, BAC-WT-A looks like a 30% annual gainer for at least a few more years. SJ Link to comment Share on other sites More sharing options...
mhdousa Posted February 15, 2013 Share Posted February 15, 2013 Curious that Francis Chou dumped a whole pile of BAC-WT-A. If somebody gets a chance to chat with him at the FFH meeting in April, I'd love to know his rationale for reducing that position. From my perspective, BAC-WT-A looks like a 30% annual gainer for at least a few more years. SJ I mentioned this in the recent Chou 13F thread, but it seems as though he has held onto his warrants in the Chou America funds. Link to comment Share on other sites More sharing options...
Uccmal Posted February 15, 2013 Share Posted February 15, 2013 Curious that Francis Chou dumped a whole pile of BAC-WT-A. If somebody gets a chance to chat with him at the FFH meeting in April, I'd love to know his rationale for reducing that position. From my perspective, BAC-WT-A looks like a 30% annual gainer for at least a few more years. SJ I mentioned this in the recent Chou 13F thread, but it seems as though he has held onto his warrants in the Chou America funds. He wont tell you. I expect it was a matter of something else being more attractive. Francis is a an asset based manager. One thing is for sure: he didn't make much money on them. And who knows... he may have taken a tax loss and rebought. That is the problem with the 13 f. Lagged 6 weeks, and a one day snapshot. Link to comment Share on other sites More sharing options...
txlaw Posted February 15, 2013 Share Posted February 15, 2013 Curious that Francis Chou dumped a whole pile of BAC-WT-A. If somebody gets a chance to chat with him at the FFH meeting in April, I'd love to know his rationale for reducing that position. From my perspective, BAC-WT-A looks like a 30% annual gainer for at least a few more years. SJ I mentioned this in the recent Chou 13F thread, but it seems as though he has held onto his warrants in the Chou America funds. He wont tell you. I expect it was a matter of something else being more attractive. Francis is a an asset based manager. One thing is for sure: he didn't make much money on them. And who knows... he may have taken a tax loss and rebought. That is the problem with the 13 f. Lagged 6 weeks, and a one day snapshot. I've always wondered this about mutual funds and hedge funds -- does the whole tax offset thing work the same for these things? If you are in the US, for example, can you sell in your investment fund to harvest a loss and then buy after the wash sale period is up? Link to comment Share on other sites More sharing options...
MrB Posted February 15, 2013 Share Posted February 15, 2013 Curious that Francis Chou dumped a whole pile of BAC-WT-A. If somebody gets a chance to chat with him at the FFH meeting in April, I'd love to know his rationale for reducing that position. From my perspective, BAC-WT-A looks like a 30% annual gainer for at least a few more years. SJ I mentioned this in the recent Chou 13F thread, but it seems as though he has held onto his warrants in the Chou America funds. He wont tell you. I expect it was a matter of something else being more attractive. Francis is a an asset based manager. One thing is for sure: he didn't make much money on them. And who knows... he may have taken a tax loss and rebought. That is the problem with the 13 f. Lagged 6 weeks, and a one day snapshot. That is kind of the point. Weighting in a fund is based on cost. To illustrate; for a fund of $100 I can put $10 into a stock, which with a share price of $1 means I can buy 10 shares for my fund. If the share tanks to 50 cents then I cannot add to my position. However, what I can do is sell my shares and buy back the position 30 days later, thereby establishing a new cost base, and in this case I can now buy 20 shares. So it if he is selling only in one place and not the other and his cost base is materially higher in the place he is selling then it is a safe bet to assume, that is what is happening. So, selling to buy more. Link to comment Share on other sites More sharing options...
MrB Posted February 15, 2013 Share Posted February 15, 2013 Some fairly decent articles about B of A's legal issues (from Fool.com!): http://www.fool.com/investing/general/2013/02/12/the-single-biggest-threat-to-bank-of-america-today.aspx http://www.fool.com/investing/general/2013/02/12/b-of-a-bny-mellon-settlement.aspx http://www.fool.com/investing/general/2013/02/13/dont-overlook-this-multi-billion-dollar-b-of-a-ris.aspx http://www.fool.com/investing/general/2013/02/13/the-biggest-unknown-threat-to-bank-of-america.aspx http://www.fool.com/investing/general/2013/02/14/when-will-bank-of-americas-legal-nightmare-end.aspx Gokou, are all these written by you on the Fool? ;D Just kidding. Cheers! Of course not. Frankly, the discussions on this board are way more in depth and valuable, but it's also useful to have a quick summary of the various current lawsuits / issues. I have taken a half-position in BAC LEAPs recently. Hope it dips a bit before the CCAR result release and I will get into a full position. I enjoyed it. Tnx. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted February 16, 2013 Share Posted February 16, 2013 From Chou's letter in 2010 "Our investing horizon is long-term – eight years or more for these bank warrants. Over that period, we believe the odds are it will work out to be decent investment – more so for the better capitalized banks. We view it as the glass being more than half full rather than being more than half empty. Link to comment Share on other sites More sharing options...
Junto Posted February 16, 2013 Share Posted February 16, 2013 From Chou's letter in 2010 "Our investing horizon is long-term – eight years or more for these bank warrants. Over that period, we believe the odds are it will work out to be decent investment – more so for the better capitalized banks. We view it as the glass being more than half full rather than being more than half empty. Long eight years...wait... Link to comment Share on other sites More sharing options...
warrior Posted February 16, 2013 Share Posted February 16, 2013 Im not sure if it was posted on the board , Buffett on BoA warrants , housing market, ect.. http://video.foxbusiness.com/v/2165570838001/warren-buffett-housing-market-is-getting-better/?intcmp=obinsiteIm Link to comment Share on other sites More sharing options...
OracleofCarolina Posted February 16, 2013 Share Posted February 16, 2013 http://www.nytimes.com/2013/02/17/business/dont-blink-or-youll-miss-another-bank-bailout.html?partner=yahoofinance&_r=0 Article on BAC getting a break from the NY Fed Link to comment Share on other sites More sharing options...
JRH Posted February 17, 2013 Share Posted February 17, 2013 Maybe not much better than amusement, and could just be fooled by randomness, although I do like this blog regardless: http://www.mebanefaber.com/2013/02/16/housing-market-vs-financials/ Link to comment Share on other sites More sharing options...
texual Posted February 17, 2013 Share Posted February 17, 2013 I may never sell a single share of Bank of America. Link to comment Share on other sites More sharing options...
Parsad Posted February 19, 2013 Share Posted February 19, 2013 Bank of America Wins Record Growth to 401(k)s From Commercial Banks: http://www.bloomberg.com/news/2013-02-19/bofa-wins-record-growth-to-401-k-s-from-commercial-bank.html Cheers! Link to comment Share on other sites More sharing options...
fareastwarriors Posted February 19, 2013 Share Posted February 19, 2013 http://www.bloomberg.com/news/2013-02-19/bofa-grants-chief-moynihan-11-million-in-stock-bonus-for-2012.html BofA Increases Moynihan’s Pay 71% to $12 Million in 2012 Link to comment Share on other sites More sharing options...
ericd1 Posted February 21, 2013 Share Posted February 21, 2013 CEOs pay remained the same - options increased Hey Eric. Did you sell your BAC today? LOL. next time give us a heads up first... Link to comment Share on other sites More sharing options...
gokou3 Posted February 21, 2013 Share Posted February 21, 2013 Thanks to the drop, the dumb money (me) has finally acquired a full position. Hope I don't jinx it. ;) Link to comment Share on other sites More sharing options...
wescobrk Posted February 21, 2013 Share Posted February 21, 2013 CEOs pay remained the same - options increased Hey Eric. Did you sell your BAC today? LOL. next time give us a heads up first... I'm curious to know if Eric bought any? I bought more leaps after it hit 11.80. The fed is still chaired by a dove and he will ultimately get the votes he needs. I think the market overreacted. I have a huge percentage in BAC. We are roughly two weeks from buyback news. I'd be surprised if price widens from tbv instead of converging with so close to buyback in over 5 years. Link to comment Share on other sites More sharing options...
wescobrk Posted February 21, 2013 Share Posted February 21, 2013 I might get hammered from here but i'm all in BAC. Absent a big macro event, I don't understand the sell off with buyback coming and earnings about 6 weeks away Link to comment Share on other sites More sharing options...
buylowersellhigh Posted February 21, 2013 Share Posted February 21, 2013 I might get hammered from here but i'm all in BAC. Absent a big macro event, I don't understand the sell off with buyback coming and earnings about 6 weeks away What buyback are you referring to? Is there a buyback expected? Is one expiring? Link to comment Share on other sites More sharing options...
Liberty Posted February 21, 2013 Share Posted February 21, 2013 What buyback are you referring to? Is there a buyback expected? Is one expiring? The company has mentioned numerous times that it wants to return extra capital to shareholders via buybacks and dividends once it gets permission from its regulators. They are expected to get permission relatively soon. Link to comment Share on other sites More sharing options...
Liberty Posted February 22, 2013 Share Posted February 22, 2013 http://www.bloomberg.com/news/2013-02-22/fattened-margins-seen-shrinking-40-at-banks-mortgages.html Link to comment Share on other sites More sharing options...
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