EPS: Last quarter was 0.23 .  Thats not even enough to pay for half of
its quarterly dividend!  Short term, horrible play.  Maybe the company
will profit few years down the line, but one could just invest in it
later on.

It amazes me that people ignore fundamentals.

ABX  - Gold company, their earnings was 0.53/share last quarter twice
the amount of BAC, yet their stock price is pretty much the same as
BAC.

Financial companies can make money, but they can also lose it fast
because they really have no tangible worth.  They survive through
generating paper money ... but maybe Americans like fake stuff...

At least you don't have to worry about being mistaken for a rocket
scientist.

Target price $100 and $5 dividend.  No brainer.  There is no credit
crisis for BAC.  BAC is profitable and a cash generating machine.  Did
I mention billionaires like Warren Buffet own a ton of BAC shares?  I
like investing with billionaires.  Good luck with ABX.

Best regards,

Kurt

oh please BAC is one of the worst banks, all of the skeletons are not
out of the closet on this one, wait for the dividend cut and this mutt
will really dive

How can you even say that, do realize that these banks have yet to
really loose a dime, they are just writing down the value of the
assets.  In 2006 banks made over 500 billion in profits.  Think about
for a minute.  I read a great article last night that said to write
this down on a sticky note and put it on your computer "write-ups", in
the next 24 months banks will start to write up their assets, so put
that on with their stratospheric profits and you have a 50+ stock,
plus dividend.  I will take that all day long, plus they are the best
run bank bar none.  Cheers,

well, its gona hit the lows before its gona get back to the $50s.  It
can't even afford to pay dividents!  The divident money is pretty much
stock holder money recirculated... cept, they charge you for that
recirculation... retarded.

Banks make money by... circulating money.  They don't really "make"
money, they just take little pieces from a lot of people and call it
profit.

Most of this is non cash impaired assets . Once the books have been
cleaned from the excess then the machine just cranks back up. Remember
BAC has written off billions the last two q's and still made money.
It's like owning the Army they just keep on . This is a victun of an
over sold sour discouraged market. It's to big a target not to take it
in the chops when the market takes gas. It is too enormous to do
anything from here but climb back up. I'm in.

while I am fundamentally bearish on most financials, I like BAC. If
youc an make money during these tough times, you  can make money
anytime. More so, the top of the line/best in breed for each class
will end up much stronger when this is done - PROVIDED theya re making
acquisitions during the crisis. EG, I like JPM, BAC< and a few others
who are engaging in opportunistic expansion - they ahve expanded their
upside on a rebound considerably in doing so. So long as theya re
strong enough to pull thru, which both BAC and JPM are.

I like BofA as well and have been adding positions.  They, as well as
JPM, managed to avoid a lot of the recent distress and are the two
banks that actually were in positions to make acquistions.  That fact
can't be ignored.  In tough finanancial times banks consolidate, and
right now JPM and BofA are in stronger positions than almost any other
financial out there.

There is risk involved here but its definatley a risk I'm willing to
take.

Also to iamjeff.......we all use paper money.  The entire financial
system is based off of debt and the promise to pay it back.  To say
that BofA is a bad stock because of the system is silly.  You use
dollars don't you?  Do you keep your money under your mattress?  Are
you not trying to make money off of stocks while producing nothing in
return?  The system is what it is and barring a meltdown of our entire
financial system and way of life., the strong banks will survive and
come back even stronger.  The only thing you have to figure out is
which financials will prosper in the long run and what kind of
timeframe you're looking at.

I am not worried about BofA's fundamentals.  My biggest worry is time
frame and how long it will take me to see the kind of profit I'm
looking for.

BAC is one of the STRONGEST banks with the best management. If you
want a balanced bank, with strong commercial operations and growing
investment banking and corporate finance divisions, BAC is the best.
If you're looking for a purely i-banking play, stick with GS or LEH.

True enough.  I mean, they've only been paying dividends when?  OH
YEAH - SINCE 1903 ! ! ! !

http://dividendinvestor.com/?symbol=BAC&submit=GO

They must know nothing about paying dividends or how to run a bank.
Since they've been doing it, through times such as WWI, The Great
Depression, WWII, The Cold War, The Korean War, The Vietnam War,
numerous recessions, Gulf War II and Gulf War II, and the current
recession.  The largest bank with the best balance sheet.

Yeah, they just be numskulls.

And yes, that was all sarchasm.

BAC is a no-brainer DRIP investment ...

You've been watching that "Money as Debt" nonsense haven't you - and
now you think you're an investing genius.

Sigh.

People deserve what they get.

remember what happened to BSC few months ago ?

Yes, an *investment* bank that was over exposed and faced serious
liquidity issues collapsed. BAC is quite different fundamentally and
is exposed to different things. A better comparison to BSC would be
countrywide, not BAC. Bac would be more like JPM in this situation.

Target Price $100 and $5 dividend.  The effect of the recent FED cuts
have not even been felt yet.  BAC is best positioned to take market
share and grow their business and add to capital.  The CFC acquisition
will be accretive to earnings.  The jewels of CFC will be absorbed and
the sub-prime slime will be discarded.  Did we forget BAC acquired
LaSalle Bank for a huge presence in the Midwest.  BAC's future is so
bright, I have to wear sun glasses.

How are you comparing a bank... say Bank of America compared to
Barrick Gold (ABX)??

That is no where near an apples to apples comparison. Its like an
apple to gold comparison; and we all know what is doing better these
days... gold.

Kurt you forgot to mention that tiny holding in China. :-)

bump

iamjeffre. One thing you ened to add in please.

Bac has gained some $16 billion in profits from its investment in CCB,
incl. the new shares. It also has an In the MOney call option on CCB
worth another $15bill in profits.

Keeping in mind that many non-performing assets have been marked to
market and treated as a loss, we can then take that $31billion worth
as earnings. Right now BAC has been tkaing the losses and ignoring the
profits; I suspect that will change after the CFC buyout and when BAC
is fianlly able to start selling its position in CCB in October. They
can sell up to $16billion worth of existing CCB stock as of October
2008, the new shares until 2011, and any new shares will ahve a 3yr
holding period.

So lets see, $31 billion / 4.5billion shares = of $6.88/share of BAC
outstanding. Pays for the dividends for the next couple of years
untilw e clear out of this housing mess - then at that point you will
likely see write-UPs as some non-performing assets become worth more
due to improving conditions.

its gona drop some more before its gona go back up... thats all im
gona say

As far as the CCB shares go, you might wanna keep track of that for
the "profits" you're expecting. Since that report came out CCB has
lost a ton of value, in fact its been basically dropping in tandem
with the rest of the banks for the past year,  and if it doesn't hold
up til October all those earnings you were counting on may have
evaporated.

thats what i called out a while ago!... dude, you stubborn OLD guys
never listen...

GAWD... you guys are just emotional buyers... GET with the program and
look at the fundamentals!

While reading up on BAC news, I ran across this nice re-cap about
Cramer. haha.

"December 3, 2007 1:52 PM EST

Cramer thinks Bank of America (NYSE: BAC) and Wachovia (NYSE: WB) are
good buys. Cramer thinks you should take advantage of the slide in
Bank of America and Wachovia because he thinks the fed will become
aggressive and help the economy. Also, by owning Bank of America and
Wachovia you will be able to receive both BAC's and WB's attractive
dividend."

Right now Cramer hates all bank stocks. In fact, I don't know anyone
who thinks you should buy now, which only proves that now is the time
to buy.