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BofA’s stock is up about 74 % after Temasek sold!!!

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  • BofA’s stock is up about 74 % after Temasek sold!!!

    SG schools nw teaching ppl to buy high and sell low ???? .... who is going to be accountable for all these losses??




    The New York Times, 18 May 2009

    Wall Street Warms Up to Bank of America
    May 18, 2009, 11:13 am

    Kenneth D. Lewis may have gotten a rebuke from shareholders last month, but he was getting votes of confidence from Wall Street on Monday. Upbeat assessments from analysts at Citigroup and Goldman Sachs lit a fire under shares of Bank of America, the banking giant where he is chief executive — and was chairman until a few weeks ago, when shareholders voted to remove him from that latter post.

    At first glance, the enthusiasm might seem to come at a strange time. Banking regulators just told BofA to raise nearly $34 billion, suggesting it was the most anemic of the 19 financial institutions that endured the government’s stress tests.

    But some analysts think Bank of America’s efforts to raise the capital are proceeding well. If that overhang clears up, it could ease the pressure that has been weighing on the company’s stock price.

    Analysts at Goldman raised BofA from “neutral” to “buy” and added the company to their so-called conviction list of recommended stocks. Analysts at Citigroup kept a “buy” rating on the shares but had positive things to say about the integration of BofA and Countrywide, the troubled mortgage lender it recently bought, as well as its capital-raising plans.

    BofA is using “at-the-market” stock sales to raise a large part of its additional capital cushion. That means the shares are quietly dribbling out in unknown quantities. Reading the tea leaves — and watching the volume of BofA stock trades — analysts at Citi, led by Keith Horowitz, estimate it has already raised $3 billion to $4 billion from selling new stock.

    In addition, Bank of America raised an estimate $4 billion after taxes from the recent sale of part of its stake in China Construction Bank.

    The biggest unknown appears to lie in BofA’s plan to convert about $16 billion in institutionally held preferred stock into common. If BofA can offer a price that is above the equivalent price of the common shares, it will minimize the dilution for current shareholders, the analysts said.

    The analysts’ comments may be gratifying to Mr. Lewis, who endured some heated attacks at last month’s meeting from shareholders who lost money.

    But Temasek, the investment arm of Singapore, could be feeling a bit of seller’s remorse. The fund recently reported selling its entire stake in BofA — at an enormous loss, by all accounts — some time before March 31. Since then, BofA’s stock is up about 74 percent.
    -----------------------------------------------------------------------------------
    *****************************
    A bad day of fishing is still better than a good day at the office.


    Just me and my NT...

  • #2
    enter make mistake...
    exit make mistake again...
    i think they lost about 5b... CPF interest of course stuck at 2.5%...

    Comment


    • #3
      hmm... it's like buying LV at 11+K, daytona at 19k, milgauss gv at more thn 15k . . . heart pain

      Comment


      • #4
        Lose money also can get national award Gotta love being in the exclusive upper class
        [U]Currently wearing[/U]:
        [SIZE="1"]TT Datejust with diamond dial - sold!
        Blue 6694
        Seiko SD-lookalike[/SIZE]
        [U]"My collection"[/U]:
        [SIZE="1"]Blue 6694; TT DJ w diamond dial.[/SIZE]

        Comment


        • #5
          It's like being "Tricked" and kena "Play out Big Time".
          the Trails and the Ocean !

          Comment


          • #6
            same people but not same life lor........my boss once told me nothing is fair in this world, guess he is right

            Comment


            • #7
              timing is the main factor i suppose...
              Courage is what it takes to stand up and speak

              Courage is also what it takes to sit down and listen

              Quoted from Sir Winston Churchill

              Comment


              • #8
                Aiya, this kind of things nobody knows, nobody can predict one lah... where got investment sure earn money one? It is just bad luck for Temasek this time. I have been earning $$$ from stocks since last nov, am I good in investment? No, I am just lucky. Maybe I should apply for a job in Temasek and all I put in my resume is "I am a lucky guy!"

                Comment


                • #9
                  Originally posted by majortom View Post
                  same people but not same life lor........my boss once told me nothing is fair in this world, guess he is right
                  "Fair" ??? "Fair" is a commodity also, you got $$$, then you can have "Fair" ...

                  P/S " "Fair" never come cheap...
                  I'm a super low-baller

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                  • #10
                    No luck involve in stock, unlike toto..
                    Need to study hard and go in at the right time..
                    Run by that woman that's why lose so much..
                    Guess our Merciless God Kwan Yew did the right thing and got her OUT before more MASSIVE LOST.....

                    Comment


                    • #11
                      Originally posted by 116520 View Post
                      Aiya, this kind of things nobody knows, nobody can predict one lah... where got investment sure earn money one? It is just bad luck for Temasek this time. I have been earning $$$ from stocks since last nov, am I good in investment? No, I am just lucky. Maybe I should apply for a job in Temasek and all I put in my resume is "I am a lucky guy!"
                      Well said. Can I tag along your Resume and i put in my resume : "I'm the Heng Heng Guy"
                      the Trails and the Ocean !

                      Comment


                      • #12
                        2009 Best Seller Dummies Guide Book

                        Comment


                        • #13
                          someone should edit the speech bubble to...... "lose billions and get awarded!"
                          [U]Currently wearing[/U]:
                          [SIZE="1"]TT Datejust with diamond dial - sold!
                          Blue 6694
                          Seiko SD-lookalike[/SIZE]
                          [U]"My collection"[/U]:
                          [SIZE="1"]Blue 6694; TT DJ w diamond dial.[/SIZE]

                          Comment


                          • #14
                            just imagine how many watches you are buy with that amount of $$$ that was flush down the drain...
                            d e a r.l y - because they are worth it...

                            w a s t i n g m y t i.m e

                            Comment

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