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Bank Of America Insider Buying Confirms Stock Is Promising

ByBL
Published 03/08/2013, 01:33 AM
Updated 07/09/2023, 06:31 AM
C
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BAC
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9 directors had bought Bank of America (BAC) shares aggressively, see the data below. Gifford Charles had bought the largest amount: USD3.55 mil worth of stocks. Their buying price starts from $13.60. Lowest buying price is at $7.25. Current price is at $11+ is still cheap.

I believe 2013 is the year where US financial stocks will rally. Most of them are trading still below book value. When a stock is trading below book value, this means that market think that the stock would continue to report losses.

However we have already seen America International Group (AIG), Bank of America (BAC) and Citigroup (C) reported healthy profits. At that same time, all these 3 financial giants have aggressive share buybacks by their directors.

I believe market is WRONG in pricing those financial giants below book value. When market starts to gain confident in those stocks, these stocks should appreciate above their book value. This will result in 100% to 300% capital gains. Kindly be warned that much patience is required.

Today I had bought BAC at $11.42.

BAC chart:
Bank Of America Crop
BAC Insiders’ Trades:

BAC-Insiders-Trades

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