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Bank Of America Has A Story To Tell
December 3, 2018
- Bank of America's stock has underperformed the broader market so far in 2018, but the bank's long-term story remains intact.
- There are several reasons to remain bullish, but, in my opinion, Bank of America's improving cost structure is the main reason to stay long the stock.
- I am long Bank of America with an overweight position, and I plan to stay long.
Bank of America's ($BAC) stock has significantly underperformed the broader market so far in 2018.
It has been a tough environment for the banks in 2018 and this may continue to be the case over the next few quarters, but, in my opinion, there are several legitimate reasons to stay long Bank of America ("BofA"), with its improving cost structure being near the top of that list.