Monday, April 20, 2009

Bank of America Profit Rises on Housing, Trading Gain

April 20 (Bloomberg) -- Bank of America Corp., the largest U.S. bank by assets, reported first-quarter profit more than tripled on gains from home refinancing and trading.

Continuing the recent trend of vastly improved performance of banks in general. Notice the trading gains that came through Merrill. Many analysts criticized BAC's purchase of Merrill, but Ken Lewis may have the last laugh!

Buy on dip.

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