032: Bank of America is a long-term winner



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Financial Movers Podcast #32

(07/29/20)


PODCAST OUTLINE

Welcome to the Financial Movers Podcast. (today is, and this is episode # …. , and I’m speaking to you from ...) No matter if you’ve been listening to this podcast since episode 1, or this is your first time listening, OR you’re somewhere in the middle of those two, I promise you'll finish this podcast today with more knowledge than you started it with. 


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Also, if you want a visual aid to better understand the strategies and indicators I'm using then you can follow along on my Youtube channel @FinancialMovers where I have this episode posted with a screen recording in video format of what I'm doing this entire episode. Similarly, I have all of today's notes posted on the Financial Movers website, so if you're a cliff notes type of person then the outline will serve you well. 


Today’s Agenda:

  1. Bitcoin has broken out

  2. Microsoft Play from last Friday

  3. Banks valuation



1. Bitcoin Breakout: #30, posting on Twitter

  • Posted BTC chart and symmetrical wedge trade idea last Wednesday, July 22 on Twitter, Facebook, and talked about it in last Wednesday’s episode #30

  • Now trading at: $11,229 (+20%, +$2k) since called at $9,327


2. Microsoft Play From Last Friday: Episode #31 (07/24/20)

- 2x leverage index: ^NY2LMSFT


3. Bank Stocks: Episode #25 (07/10/20)

  • Morgan Stanley (MS): +1.58%

  • JPMorgan (JPM): +3.54%

  • Wells Fargo (WFC): +1.21%

  • Bank of America (BAC): Investment banking and financial services, They have 4,600 retail financial centers, +16k ATM’s, and it services approximately 10.73% of all American bank deposits. 

  • HUGE. $2.4T in assets making BAC the 2nd largest bank in the U.S., 9th largest financial institution in the world.

  • Reported disappointing Q2 earning July 16 

  • Beat earnings, revenues fell 3% year-over-year, net interest income dropped 11% and net profits plunged more than 50%

  • Makes sense that their stock is at 25.27 trading 41% below its 52-wk high of 35.72

  • But better times are ahead, everything they reported is what happened, not what will happen. Maybe I’m optimistic?

  • Buffett investing = good sign

  • Buffett has purchased  998.1 million Bank of America shares, according to an SEC form. The shares are worth nearly $25B, which makes Buffett Bank of America’s top shareholder

https://www.wsj.com/market-data/quotes/BAC/research-ratings


  • Trading at 11.3% from analyst avg price target of $28.14

  • I see BAC going to $30, which is +18.7% away


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