Bruce Berkowitz is famously long Bank of America (BAC) and Brown agrees that it is attractively priced. Here are his thoughts from earlier today after the BAC earnings were released:
- He thought the earnings release was terrific and that 2012 was a year of massive improvement for Bank of America.
- Over the next few years Bank of America is going to be a great dividend and repurchase story.
- He thinks BAC trading under tangible book value, with the ability to make $2.50 per share in a couple of years, is significantly undervalued today.