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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (44657)	9/28/2011 11:16:31 PM
From: Spekulatius	Read Replies (2) of 78673

>>BAC. $30B non-performing? I didn't know it was that much. It's a lot.<< BAC has 37B$ in reserves that are not included in equity or book value that would cover a 100% loss of the nonperforming assets and have 7b$ leftover. Those NPA are not the problem, the problem are the unquantifiable potential losses due to bad mortgages written from 2005-2008,mostly from Countrywide. I don't own this right now (licking some wounds) as I am on. Wash sale timeout, but if it weren't for that mortgage issue, BAC looks like it could withstand another recession without issue, IMO.it certainly isn't as weak as some analyst make it. But then again, you can buy C as well which has none of these mortgage issues and are cheap too.

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