Do you know why Bank of America is having such a bad year on the exchange? The other “big four banks” JPMorgan Chase, Wells Fargo, and Citibank are all doing better this year.
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This is why you should sell those RSUs the minute they vest.
These RSUs are our bonus, which we EARNED (since we never get pay increases). Only to see it devalued by the assinine decisions at the top of the house -- on the company's Balance Sheet (!) no less.
Once again, Jamie Dimon proves the better by not risking his balance sheet hoping for an "offset" of deposits. Brian made a bet (with our collective earnings) and lost.
But never fear, they will come up with some cute accounting and pr puff to make it look nice. Until next quarter.... I'm just glad for once his decisions impact him and his cronies, too.
All that, plus "securities [bonds] held to maturity" on the Bank's balance sheet. There is a paywall but here here are 2 articles on it:
JPMorgan Bond Losses Hit $40 Billion. Bank of America’s Should Be More:
https://www.barrons.com/articles/jpmorgan-bond-losses-bank-of-america-b6766363
Bank of America Stock Has Been the Problem Child of Big Banks. Is the Worst Over?
https://www.barrons.com/articles/bank-of-america-stock-price-11855305
https://dailyhodl.com/2023/10/08/jpmorgan-chase-bank-of-america-and-goldman-sachs-hit-with-53000000-fine-for-failing-to-properly-report-millions-of-derivatives-transactions/amp/
https://seekingalpha.com/news/4019208-bank-of-americas-long-term-securities-to-weigh-on-quarterly-earnings
Our CEO isn’t earning his 30 mil!!
The answer is easy ... The company is poorly run. Brian loves himself some Brian and loves to see himself on TV. Unfortunately Brian is d-mb as paint and doesn't know how to motivate anyone except his direct minions who get paid really really well. No one outside that group is motivated at all.
Have you not seen the 10YT? EVERYBODY is in trouble. Look up John Titus aka BestEvidence.
Maybe that is why they started with RSUs in the place of bonus & are doing realignments galore trying to force ppl to quit
I recently attended a networking lunch with one of the execs in GM and he mentioned that BoA bought too many 'held to maturity' securities on its balance sheet and the market is basically discounting our stock price for them...not that I understand the full economics of the situation but basically our management decided to do something with its balance sheet different from the competitors and we are being punished for it in the market price