1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Dheeraj Grover
Dheeraj Grover
Articles (493) 

Bank of America CEO Brian Moynihan Discusses Fiscal Cliff and Its Impact on Business Behavior

December 05, 2012 | About:

Bank of America (BOA)'s CEO Brian Moynihan was on CNBC to discuss Fiscal Cliff and its impact on business behavior, consumer behavior and the U.S. economy. He also discussed his bank's plan for the dividends.

-- He is more concerned about the impact of the fiscal cliff on business behavior versus the consumer behavior. Thinks consumers are feeling more confident and spending money.

-- Businesses are conscious and in a hold pattern for spending. They are putting in place plans since August on how they will deal with the fiscal cliff, assuming that congress will not be able to reach a consensus.

-- Even if congress cuts some kind of deal on the fiscal cliff, it will still impact the spending environment in 2013 leading to a slow or flat economic growth.

-- This will spiral into a further slowdown into 2014 as well as all the business spending decisions for 2013 have already been made.

-- The environment is very uncertain due to the fiscal cliff and constant push of the can down the road by the congress.

-- Bank of America has fared very well last year, is very well capitalized and dividends are surely in play in the near term.

Credit and source: www.cnbc, CNBC

Here is the video:

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

» Take a Free Trial of Premium Membership

About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

Rating: 2.8/5 (5 votes)


Please leave your comment:

Performances of the stocks mentioned by Dheeraj Grover

User Generated Screeners

andrewgu999valleylink - gogogo
DBrizanROTA ultimate18nov2017 1041p
DBrizanROTA18nov2017 1041p
DBrizanROTA18nov2017 1035p
DBrizanROTA18nov2017 1032p
DBrizanROTA18nov2017 1025p
averacjrnot about to fail
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat