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Joel Buys Bank of America

Tuesday, September 16th, 2008
Posted in Joel by Joel Gross

I bought 70 Bank of America shares at‚  $28 per share for a total cost of $1,960.‚  In my opinion, Bank of America stock is looking pretty cheap right now and it is positioning itself to dominate the entire banking industry once events begin to stabilize themselves.‚  I think that there is significant risk to Bank of America too, but Bank of America has grown itself into such a behemoth that the US government will never let it fail.‚  The government already bailed out Freddie Mac, Fannie Mae and Bears Stearns- there is no way they would let the largest bank in America ever collapse.‚  You guys agree or disagree with my purchase of Bank of America stock?