hundredwaters Posted May 4, 2012 Share Posted May 4, 2012 ...picking up the BAC common at this price? Link to comment Share on other sites More sharing options...
racemize Posted May 4, 2012 Share Posted May 4, 2012 I've bought at 8 before, but I'm building cash at the moment. Link to comment Share on other sites More sharing options...
moore_capital54 Posted May 4, 2012 Share Posted May 4, 2012 We are adding, I can't believe it's down here again... Link to comment Share on other sites More sharing options...
actuary Posted May 4, 2012 Share Posted May 4, 2012 Adding again as well... as is Mr. Powell http://finance.yahoo.com/q/it?s=BAC+Insider+Transactions Link to comment Share on other sites More sharing options...
hundredwaters Posted May 4, 2012 Author Share Posted May 4, 2012 Hopefully Parsad weighs in as well - I am curious as to his thoughts given the variety of rumblings... Link to comment Share on other sites More sharing options...
ourkid8 Posted May 4, 2012 Share Posted May 4, 2012 I just sold out of FTR and used the cash to add to my BAC position. I will continue selling out of my lower quality holdings while adding to BAC as it declines. (Sandridge is also very tempting as well) I am trying to moving up the quality scale. As Parsad has mentioned numerous times, this should hit TBV by end of the year. Link to comment Share on other sites More sharing options...
PLynchJr Posted May 4, 2012 Share Posted May 4, 2012 Also adding. Link to comment Share on other sites More sharing options...
keerthiprasad Posted May 4, 2012 Share Posted May 4, 2012 Adding more. Just running low on cash. Already picked up a considerable amount in the past. Link to comment Share on other sites More sharing options...
enoch01 Posted May 4, 2012 Share Posted May 4, 2012 I'm actually getting excited about AIG as well. More CDO sales coming, fast and furious: http://bloom.bg/IMrO1L Link to comment Share on other sites More sharing options...
Grenville Posted May 4, 2012 Share Posted May 4, 2012 Adding again as well... as is Mr. Powell http://finance.yahoo.com/q/it?s=BAC+Insider+Transactions Good to see him continue to add. from the proxy: Donald E. Powell; 71; Former Chairman, Federal Deposit Insurance Corporation (FDIC) - IndependentDirectorsinceJune2009. - Federal Coordinator for the Office of Gulf Coast Rebuilding from November 2005 until his engagement in private investment activities in March 2008. - Chairman of the FDIC, an independent agency of the U.S. federal government, from August 2001 to November 2005. - Chairman, Chief Executive Officer and President of The First National Bank of Amarillo from 1997 to 2001. - RecipientofPresidentialCitizensMedalinDecember2008. - Member of the Board of Regents of the Texas A&M University System from 1995 to 2001, during which he served two terms as Chairman. - Other Current Directorships: Stone Energy Corporation; QR Energy L.P.; Merrill Lynch International (United Kingdom). Mr. Powell has vast financial services expertise, having worked in our industry for over 40 years. As the former Chairman of the FDIC, Mr. Powell provides a unique perspective on the regulatory process and in dealing with regulators and government agencies. In addition, he brings large-scale operations and risk management expertise to our Board through his work as the Federal Coordinator tasked with rebuilding plans in the aftermath of Hurricane Katrina and his service on the Board of Regents of the Texas A&M University System. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 4, 2012 Share Posted May 4, 2012 I think BAC will fall further when the broader market starts pricing in recession risk. My confidence in going against the ECRI call is in rapid decline and I'm buying market puts. Link to comment Share on other sites More sharing options...
bmichaud Posted May 4, 2012 Share Posted May 4, 2012 I think BAC will fall further when the broader market starts pricing in recession risk. My confidence in going against the ECRI call is in rapid decline and I'm buying market puts. You shouldn't take into account the opinion of such charlatans - they have no idea what they're talking about. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 4, 2012 Share Posted May 4, 2012 I think BAC will fall further when the broader market starts pricing in recession risk. My confidence in going against the ECRI call is in rapid decline and I'm buying market puts. You shouldn't take into account the opinion of such charlatans - they have no idea what they're talking about. I'm not taking their opinions into account. I'm taking this data into account: http://www.ceridianindex.com/reports/index.php Next, I'm saying that (based on that data), I'm losing confidence in going against the ECRI's call. Link to comment Share on other sites More sharing options...
bmichaud Posted May 4, 2012 Share Posted May 4, 2012 My comment was laced with sarcasm 8) Link to comment Share on other sites More sharing options...
nkp007 Posted May 4, 2012 Share Posted May 4, 2012 I've been adding to BAC AIG and C. I am out of cash. Fully invested. It had to happen sometime. Link to comment Share on other sites More sharing options...
twacowfca Posted May 4, 2012 Share Posted May 4, 2012 I think BAC will fall further when the broader market starts pricing in recession risk. My confidence in going against the ECRI call is in rapid decline and I'm buying market puts. Join the party. We doubled down on our puts early yesterday. Link to comment Share on other sites More sharing options...
bmichaud Posted May 4, 2012 Share Posted May 4, 2012 Pretty low-volume down day for BAC at around 180mm shares. Encouraging IMO. Link to comment Share on other sites More sharing options...
Grenville Posted May 4, 2012 Share Posted May 4, 2012 I'm taking this data into account: http://www.ceridianindex.com/reports/index.php Next, I'm saying that (based on that data), I'm losing confidence in going against the ECRI's call. Thanks for the link to the report Link to comment Share on other sites More sharing options...
alertmeipp Posted May 4, 2012 Share Posted May 4, 2012 Forget about those recession forecasts, the fact is no one knows. Some of these banks can return capital and buy back even under Fed's stress test scenarios. The market could go lower but it may not :) Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 9, 2012 Share Posted May 9, 2012 I agree it's time to buy more BAC. Link to comment Share on other sites More sharing options...
ourkid8 Posted May 9, 2012 Share Posted May 9, 2012 Yup, I am surprised it is at $7.75/share after everything management has done to build a fortress balancesheet. Can it fall further, of course but no one knows and who cares. It is selling at a 70% discount to TBV; unbelivable!!! S I agree it's time to buy more BAC. Link to comment Share on other sites More sharing options...
ourkid8 Posted May 10, 2012 Share Posted May 10, 2012 $7.48 in after hours, how low can BAC go before you start backing up the truck? Link to comment Share on other sites More sharing options...
actuary Posted May 18, 2012 Share Posted May 18, 2012 Powell continues to purchase shares. 12,000 more Monday at $7.36 Link to comment Share on other sites More sharing options...
DCG Posted May 18, 2012 Share Posted May 18, 2012 Added to my BAC position this morning. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 18, 2012 Share Posted May 18, 2012 JPM traded down to $28 last year despite there being no rumors about it needing to raise capital. BAC traded down to $5 last year in the face of noisy capital concerns. Without those concerns, maybe it would have hit $7 and no further down? BAC at $7 now without capital concerns. JPM needs to go down another 20% to hit it's 2011 Euro-crisis low. This is why I think BAC's volume has come down lately. Link to comment Share on other sites More sharing options...
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