Bank of America
Bank stocks like Bank of America (NYSE:BAC) have been going strong lately, and many pundits believe the run is poised to continue. While InvestorPlace editor Jeff Reeves is skeptical on the sector, even he admits that we should all be rooting for them in 2013.
The Motley Fool: “This stock has already had a stellar 2012, with its stock soaring more than 50% as the banking giant stabilizes after its near-brush with disaster during the financial crisis. B of A has taken plenty of steps to try to boost earnings, including its sale of inefficient non-core assets as well as implementing an expense-cutting program that could save the company $8 billion annually.”
Forbes: “The Federal Reserve new quantitative easing program buys a minimum of $2 billion in mortgages every day. Bank of America is one of the largest mortgage providers in the country. It will experience higher revenues due to the Fed program and, more importantly, it will see the value of its troubled housing assets rise to the point where they can be sold at profits relative to their book values.”
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.