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Bruce Berkowitz Comments on Bank of America

August 03, 2012 | About:
Holly LaFon

Holly LaFon

248 followers
From Bruce Berkowitz's second-quarter letter:

Bank of America (BAC) is the Fund's next largest financial holding (9% of the Fund) affected by the great housing price collapse. The company's reported book value is over $20 per share. We believe that America's bank is returning to its retail roots (think of Wells Fargo) with a $1 trillion deposit franchise and that bank profits will skyrocket as legacy real estate loans burn-off.

Rating: 4.6/5 (7 votes)

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