Bank of America: Fed Pivot Reverses ~$33 Billion In Paper Losses, With More Upside Ahead

Alex Wong/Getty Images News I nailed the bottom in Bank of America (NYSE:BAC) shares, as I argued back in October 2023 that Bank of America shares look undervalued compared to the bank's strong earnings power and expanding business franchise. A key argument for my bullish assessment was also based on investor's "irrational fear" relating to losses in the bank's securities portfolio, which provided the opportunity to scoop up BofA stock at a depressed valuation. Since my writing less than 3 months ago, B ...