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Old 01-23-2009, 03:28 PM
 
Location: Wherever women are
19,022 posts, read 24,705,989 times
Reputation: 11309

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Folks, is this the best time to buy BofA shares?

Your opinions are much appreciated.

I see it's come down quite fast. And I am hopeful it does not get torn to shreds from here and BofA will definitely rise up from the ashes again as the economy picks up.
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Old 01-23-2009, 03:33 PM
 
1,253 posts, read 4,062,326 times
Reputation: 619
One of the big fears is that BofA may become nationalized. Although most people doubt this would happen, its a fear that is driving their stock price lower and would hit close to $0 per share should it become a reality.

Its very hard to pick the true "bottom" for a stock price. There are many good companies out there with under valued stock I think you should look at. I would personally stay away from BofA because of the added risks.
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Old 01-23-2009, 04:01 PM
 
Location: Huntersville
1,852 posts, read 4,581,064 times
Reputation: 525
My opinion.. and only my opinion, I am not in finance or a broker, etc. It could go one of two ways.. Either $0 or up.
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Old 01-23-2009, 04:05 PM
 
Location: Wouldn't you like to know?
9,113 posts, read 15,311,701 times
Reputation: 3661
Regarding BofA, I predict the stock will either go up, down, or move sideways for quite awhile....
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Old 01-23-2009, 04:42 PM
 
Location: Union County, North Carolina
5,144 posts, read 6,355,794 times
Reputation: 4307
Quote:
Originally Posted by CouponJack View Post
Regarding BofA, I predict the stock will either go up, down, or move sideways for quite awhile....
I want to be "adopted" by Ken Lewis!
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Old 01-23-2009, 08:30 PM
 
Location: Matthews, NC.
74 posts, read 313,643 times
Reputation: 44
Default Follow Jim Cramer's advice

And buy it in stages. Don't buy it all in one shot. Buy xx shares now, wait to see what happens. If it drops again (say 10-15%) buy another lot of xx shares. Keep doing that until it seems to have bounced off the bottom.
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Old 01-23-2009, 09:08 PM
 
295 posts, read 958,179 times
Reputation: 95
You might want to wait for it to go under 2. Remember the big money guys can bring this thing down fast. Don't forget to buy the "put" if your going to grab it now.
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Old 01-23-2009, 09:18 PM
 
1,343 posts, read 2,839,696 times
Reputation: 976
You can certainly buy more shares now and risk less money than if, say, you had bought shares at $45.. cough! cough! grrrrrrr..... ahem.. but, one concern, similar to nationalization, (I heard this on TV today - I guess I am not smart enough to figure this out for myself) Bank of America has accepted I don't know how many billions from TARP, and this money is preferred stock which pays a hefty dividend (Is it 5%? 8%??). The point is that this preferred dividend will take up most of the earnings the bank will make in the foreseeable future.
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