Bank Of America: Time To Take Profits

fotoslavt/iStock via Getty Images In our last article, we gave (NYSE:BAC) a rare buy rating. We had the coupling of extreme valuations alongside some other factors that setup extraordinary returns. Our point is that the bond bear story, even if it pans out longer term, will take time to do so. There are no one-way markets and a recession likely gives the bond bear market a breather. BAC will benefit immensely as its poorly purchased held to maturity securities stop taking losses and roll-off over time.  ...