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Bank of America Befriends a Bear
Today, Bank of America (NYSE: BAC) announced it could need another dose of government capital to shore up its Merrill Lynch acquisition. Additionally, JPMorgan (NYSE: JPM) just announced it would write down profits by 76% on asset writedowns. Nortel Networks (TSE: NT) just threw in the towel as well.
But these developments come as no surprise to many conservative analysts.
In fact, a number of them believe that we’re seeing a bear-market rally instead of a real turnaround. If this is the case, losses like Bill Miller’s could become commonplace as value investors – who have picked the market off its November bottom – get hurt in another “rush to the exits.”
But optimism springs eternal. Regardless of what the unemployment rate, the federal government, the financials or the economy does, there will still be optimism on the market. It’s a forward-pricing mechanism. While it reports what an asset is “worth” today, it’s really pricing for what the future of an asset is worth.
And if that is the ultimate measuring stick for our market – what is the optimism level of the country prospects – then the indexes could still go much lower before we see a turnaround.
Companies mentioned in this article: BAC, JPM and NT.
- Citigroup Gets Treasury “Seal of Approval”
- Government TARP Investing – Paying off
- Credit Crisis: “Jaws” attacks again.
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The Company Set to Dominate a $60 Billion-a-Year Market
$60 billion is spent on cancer treatment in the U.S. - each year. And one company is poised to receive the lion's share of it.
The medical director at the Alta Bates Comprehensive Cancer Center says, "...possibly a third of our cancer patient population will soon be undergoing this [company's] treatment."
Another doctor at the University of Texas MD Anderson Cancer Center says he intends to treat over 1,000 patients a year with this technology.
Here's how you can claim your stake in the company before this cash infusion sends shares soaring.
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