First off, a quick clarification. In Tuesday’s post “10 Observations About This Financial Storm,” I wrote, “Lastly on this topic, I think Bank of America (BAC) is going to be a monster when this storm passes.”
By “monster,” I meant Bank of America (BAC) is poised to be a winner; I meant it in a positive, bullish way. Its purchases of Countrywide and, more importantly, Merrill Lynch, could make it one of the bluest of blue-chips in the financial world once this storm passes.
Just wanted to clear that up, as I know I led some of you to interpret “monster” in a negative way, thinking BAC would be the next problem child.
Either way, I don’t advise buying anything financial right here–but in the years ahead, BAC could be a top stock in the financial sector.