Thomas Brown, chief executive officer of Second Curve Capital LLC and a Bloomberg Television contributing editor, discusses the outlook for bank lending and his investment strategy on Bank of America Corp. Brown speaks with Betty Liu on Bloomberg Television’s “In the Loop.”
(Source: Bloomberg)
Brown comments the news that Bank of America (BAC, Financial) is paying its employees with stock rather than cash. Brown thinks that is positive for BAC. Brown thinks the stock is very attractive in terms of valuation level. He thinks the bank will get rid of its problems in 2011 and resume growing. Further he does not think the mortgage put-back risk is nearly as big as the media speculates. His biggest concern is the lack of growth momentum for the big bank.
(Source: Bloomberg)
Brown comments the news that Bank of America (BAC, Financial) is paying its employees with stock rather than cash. Brown thinks that is positive for BAC. Brown thinks the stock is very attractive in terms of valuation level. He thinks the bank will get rid of its problems in 2011 and resume growing. Further he does not think the mortgage put-back risk is nearly as big as the media speculates. His biggest concern is the lack of growth momentum for the big bank.
