“Bank of America was already one of the most undervalued names going into the stress tests. What’s amazing about this is very rarely do these banks have value and momentum, and this has both of those. The stress test was a huge catalyst for this name. It has been this huge stealth deliverer. They announced cost-cutting measures in 2010. No bank has taken the kind of [cost cutting] measures it has taken. And it takes two years to implement those. It can easily go to $15. And over the next two years, into the $20s. It’s all cost-cutting, it’s all operating leverage. I don’ thane a lot of growth expectations for the big banks in general.”

On JPMorgan: “Not a stock I”m recommending. They’ve come a long way, not as much cost cutting to do. Just because they’re in a lot better shape than other banks, not as much upside from my point of view.” When asked about recent JPMorgan hearings, Whitney said that “reminded me of Goldman Sachs ( GS) when they got into trouble. And it will probably take them [JPM] a long time to get out of it, like it took Goldman.”