Posts Tagged ‘BAC’

Investment Quick Pitch – Citigroup, a Good Buy Near Its 52-Week Low

In Quick Pitch on August 26, 2011 at 11:30 pm

Citigroup Inc. (C), a global financial services company, provides consumers, corporations, governments and institutions with a range of financial products and services. The company operates through two segments, Citicorp and Citi Holdings. The Citicorp segment operates as a global bank for businesses and consumers with two primary businesses, Regional Consumer Banking and Institutional Clients Group. The Citi Holdings segment operates Brokerage and Asset Management, Local Consumer Lending, and Special Asset Pool businesses. (Source: Yahoo finance)

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Buffett Feasts off Mr. Market’s buffet

In Articles on August 17, 2011 at 4:04 pm

The market seems jittery. As I have noted in my previous piece on Bank of America (BAC), the caveat is the obvious gloomy macroeconomic backdrop we are witnessing now. Buffet on the other hand seems to be on a buying spree, particularly on August 8’s precipitous decline, where he upped his stake in Wells Fargo & Co. (WFC). The legendary investor opined, “Banks, facing tighter regulation, can still be plenty profitable.”

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Bank of America (BAC) with a compelling entry point for long term investors

In Quick Pitch on July 31, 2011 at 11:44 am

Question to the technicians: Take a look at the 10 year chart of Bank of America (BAC). Would you short at this bargain price of $9.71 (as at July 29th 2011)? The price is at its 52-week low, it is short term oversold and the price being hammered in its long term downtrend. No? Great, now we’ve established that there’s substantial downside risk in shorting, let’s turn to the fundamentals.

Guru Trades

Bank of America is an unloved stock at this juncture, judging from the recent downtrend. However, it is a favorite among the smart money. Fairholme Fund, Bruce Berkowitz, David Tepper, John Paulson each owns about/more than 5% of the shares outstanding. Along with other institutional funds, this translates to 60% of institutional holdings out of the common stock outstanding/float of 10Bil shares.

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