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Bill Nygren Prefers Bank of America to JP Morgan
Posted by: Canadian Value (IP Logged)
Date: October 21, 2013 05:01PM
He thinks JPMorgan (JPM) is simply not as cheap as his favorite alternative which is Bank of America (BAC).
Bank of America sells at two-thirds of book value and seven times recurring earnings after dealing with legacy housing bubble issues.
He thinks most banks are cheaper than the average stock today.
Nygren also likes Qualcomm (QCOM) which has a quarter of its market cap in cash and is aggressively repurchasing shares.
Guru Discussed: Bill Nygren: Current Portfolio, Stock Picks
Stocks Discussed: JPM, BAC, QCOM,