Why I think you should invest in Bank of America (BAC/NYSE)
Before jumping into reading any opinion piece about any particular investment, it is important to remember that all of the following is my own opinion. You should always make sure to contact a financial advisor about your own personal situation before investing any money. The opinions offered here do not guarantee any kind of results at all.
I believe that Bank of America (BAC) is the investment for you in this market. This of course is the stock of one of the largest companies in America. It is a leading and growing company. The main issue facing this company is that their stock price took quite a haircut around the great financial crisis of 2008 and 2009. The whole banking sector took a huge hit. Bank of America was not able to avoid this scenario, but they may have been hit too hard for no apparent reason.
It is true that Bank of America has had plenty of bad debt on its books, but it has taken care of much of these issues in the time between the present and the financial crisis. They are headed back on a path to get to a good financial standing once again. It is really only a matter of time before they start back on the road to the kind of profits that they were making before the crisis. This means that the stock price being paid for the shares of this company in the present are much deflated to what they should really be trading at. If the company is able to return to pre crisis profit levels, then one might expect that the stock price might also return to those levels. That is quite a few times more than what the price of the stock is currently trading at.
If this is not enough to convince you that BAC is a good stock to consider, you might want to think about the fact that this is a trusted company that is making many advances in their products offered. This is one of the only banks that currently offers customers the ability to deposit money right at the ATM's that Bank of America offers. This is a popular creation that is catching on well with many customers. It is obviously not something that particularly contributes to the bottom line of the company, but it does help to keep the current customers to stick with Bank of America. That kind of customer satisfaction that will help to be able to make sure that there is money that continues to pour in to the bank. This is great for the health of the bank and most likely good for the stock price as well.
The stock of Bank of America is still relatively cheap for the time being. Those who want to make the most money on it need to act as quickly as they possibly can. Make sure that you work to purchase up as much of the stock as you can today.