June 6th, 2008
CNBC Bonus Bucks Trivia: CNBC Stock Blog: Bernie McGinn says forget subprime — buy bank stocks. Which one did he call a “tremendous franchise”?
CNBC Stock Blog: Bernie McGinn says forget subprime — buy bank stocks. Which one did he call a “tremendous franchise”?
He also likes Bank of America (BAC).
“Bank of America represents a pretty good buy right here,” he said. “It’s a tremendous franchise; it’s the number one in deposits, it’s number one in credit-card balances, it will be number one in mortgages.”
Of course, it is that last part that makes me nervous. In the models I use, Bank of America is most notable for poor earnings momentum, poor earnings quality and poor price momentum.
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