Chris Whalen says BAC could double in 2013

[wescobrk]

I had to chuckle when Whalen said BOFA could double this year which would put it at fair value which is book on cnbc this morning. Didn't this guy write articles BAC would need capital and would be diluted? Of course, no one on the cnbc desk held him to account.

[A_Hamilton]

Did he say this on CNBC this morning? Would love to get footage of this.

[Uccmal]

As recently as October to my limited recollection.

 

 

I had to chuckle when Whalen said BOFA could double this year which would put it at fair value which is book on cnbc this morning. Didn't this guy write articles BAC would need capital and would be diluted? Of course, no one on the cnbc desk held him to account.

[cofabmd]

http://video.cnbc.com/gallery/?video=3000120869#eyJ2aWQiOiIzMDAwMTM3Njc2IiwiZW5jVmlkIjoiN0VOTTBXTXljYkNaYmp0STN1OWRRUT09IiwidlRhYiI6InRyYW5zY3JpcHQiLCJ2UGFnZSI6IiIsImdOYXYiOlsiwqBMYXRlc3QgVmlkZW8iXSwiZ1NlY3QiOiJBTEwiLCJnUGFnZSI6IjEiLCJzeW0iOiIiLCJzZWFyY2giOiIifQ==

[tng]

I have been doing the exact opposite of what Whalen says for the last few years now, starting with when he was saying that Buffett was insane for buying WFC in 2009 (I think Whalen said that WFC was the worst bank of all the big ones, now history shows that it was probably the best big bank).

 

Now that Whalen has switched stance, I am feeling paranoid.

[biaggio]

agree, not a good sign, but should one act?

[ECCO]

If you flip a coin, you will be right 50% of the time. The guy was wrong on Buffett, he might be right this time?

[nkp007]

God bless your soul if you make any decision based on what Chris Whalen does or does not do.

[ERICOPOLY]

I bet Sanjeev enjoyed the Meredith Whitney video a whole lot more.

[Green King]

I feel the same about the current price. I think this is more a indicator of the fee chargers of Wall Street are thinking. He is telling what people want to hear so be can get paid. Therefore this add no analytical addition to the thesis. If you are worried recheck your facts. 

[Parsad]

God bless your soul if you make any decision based on what Chris Whalen does or does not do.

 

Agreed.  You guys all know what your estimate of intrinsic value is for BAC.  You know the risks associated with legacy issues.  You know the progress they've made.  Determine what price you want to buy or sell at...simple...who cares what Whalen or anyone on here even says.  We average in and we average out...it takes the worry out of the whole thing...and then we hold the portion we would like to hold long-term. 

 

And yes, Whalen was being a douche a couple of months ago, saying that BAC was undercapitalized...now he's just being a bigger douche by changing his opinion overnight!  Cheers!