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States Negotiate $26B Deal For Home Owners


Parsad
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I'm pretty sure BAC has accrued for most, if not all, of that settlement.  What they don't tell you about Wells or JPM is exactly how much did they acrue.  I can assure you that Wells is going to be able to release some of that reserve over time, because they never under fund a liability.  Cheers!

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Yup, no material cost to BAC for the settlements today.  It's all good!  ;D  Tangible book by Christmas as I said earlier.  Cheers!

 

http://finance.yahoo.com/news/Bank-America-Announces-bw-3721419165.html?x=0

 

I figure that tangible book will be $14+ by then.

 

I have lots and lots of $15 strike 2014 and $10 2013 (and 2014).  They were just so cheap!

 

My thinking is to wait until this coming January and then write a deep-in-the-money 2014 call for every $15 strike call I have.  Then take the cash proceeds from writing the calls and use it to exercise the 2013 strike $10 calls (defer the taxes another year while also holding for more gains).

 

 

 

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Yup, no material cost to BAC for the settlements today.  It's all good!  ;D  Tangible book by Christmas as I said earlier.  Cheers!

 

http://finance.yahoo.com/news/Bank-America-Announces-bw-3721419165.html?x=0

 

I figure that tangible book will be $14+ by then.

 

I have lots and lots of $15 strike 2014 and $10 2013 (and 2014).  They were just so cheap!

 

My thinking is to wait until this coming January and then write a deep-in-the-money 2014 call for every $15 strike call I have.  Then take the cash proceeds from writing the calls and use it to exercise the 2013 strike $10 calls (defer the taxes another year while also holding for more gains).

 

Oh my goodness!  What a problem to have.  ;D  Cheers!

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Stock should take a good jump tomorrow.  My bet is TBV by April 9th.  Not willing to bey anyome on it though as we know Mr. Market.

 

Ok Al, I'll bite!  Why April 9th?  Is that your birthday or something?  ;D  Cheers!

 

Mine is April 10th.  However April 9th in the US is the 10th in Australia.

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Not moved yet.  We've shelved Australia -- will get back to that adventure when the kids start middle school (oldest is now in kindergarten).

 

We're headed for the LA region until then.  My wife won't go to the San Francisco Bay Area (my first choice) because my parents live there, so we're headed for sunny LA.  Fine second option!  We can travel to Australia for skiing during the too-hot summers (now that the kids are of school age we can't do long ski trips during the school year).  This way we can rack up the time in Australia to count towards my two years collective time in the country (at that point I can get citizenship for the kids).

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