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Morgan Stanley Removes Bank Of America From "Best Ideas" List

Submitted by Tyler Durden on 10/28/2010 12:39 -0400

From Morgan Stanley:

BAC.N, Bank of America ($11.54) /Remain Overweight as Catalysts Pushed

Forward: Removing from Best Ideas

Betsy.Graseck@morganstanley.com, Cheryl.Pate, Michael.Cyprys

Stock selection committee, which maintains our Best Ideas list, is looking for stocks with near-tern catalysts occurring over the next 1-2 quarters. Our catalysts, 2-4 quarters out, is longer-tailed than what the committee is looking for in the Best Ideas list. As a result, stock selection committee determined that BAC doesn’t fit a key criterion for the Best Ideas List. We remain OW as BAC offers an attractive risk/reward profile and the most upside potential in our coverage universe. Our OW is predicated on these catalysts: 1) stabilizing loan balances and NII in 2q/3q 11; 2) capital management in 3q/4q11; 3) continued credit improvement; and 4) stabilization of reps/warranties claims.

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Thu, 10/28/2010 - 12:43 | 683623 Spalding_Smailes

Shes a little heavy yes but,but looks better when she takes her glasses off, and she started running this week ...

Thu, 10/28/2010 - 12:44 | 683625 MeTarzanUjane

While simultaneously BOA puts out a strong buy recommendation on Countrywide.

Thu, 10/28/2010 - 12:44 | 683626 Hondo

We all know why they have been talking their book........and another good reason to ignore them competely (not that I don't expect them to try and minipulate the situation again).....even more insane is the guru of mortgages couldn't figure out the liability of BAC to the robosigner (& MERS) fiasco.......genius not....every now and again inside info......most likely.

Thu, 10/28/2010 - 12:45 | 683631 LongSoupLine

A bad idea, (MS), removes a worse idea, (BAC)?

It takes one to remove one.

Thu, 10/28/2010 - 12:46 | 683633 Frederic Bastiat

Nice. Wait, wouldn't it have been a better idea to remove it from the list two weeks ago, when foreclosure fraud was just hitting the mainstream news? Are these guys even watching this stock?

Thu, 10/28/2010 - 12:50 | 683644 P Rankmug

Other removals from "Best Ideas" list

-A hooker and a little cocaine will help Charlie relax

Thu, 10/28/2010 - 19:48 | 684805 Fred Hayek

They should probably remove Charlie Sheen's toupee from the best ideas list, too.

Thu, 10/28/2010 - 12:49 | 683645 centerline

Looks better while your drinking though. Beer goggles.

Thu, 10/28/2010 - 13:02 | 683681 Atomizer

Morgan Stanley Beer Googles

http://www.youtube.com/watch?v=m3eDycLLQLI

Thu, 10/28/2010 - 12:50 | 683646 hedgie

The Alamo removes Custer from its conviction buy list.

Thu, 10/28/2010 - 13:01 | 683678 John McCloy

What happened to the markets on Pomo Day? Did someone do something absurd like sell 1000 SPY shares?

Thu, 10/28/2010 - 23:26 | 685103 Johnny Yuma

The PD's realized everyone was on to them and front ran the POMO yesterday afternoon. They then dumped everything this morning and bought it all back this afternoon... Another sell off tomorrow morning? Followed by a Friday afternoon ramp into the weekend where bad news will be released?

Thu, 10/28/2010 - 13:02 | 683680 bluehorsesandal

What a joke...

The other great idea MS had was to short 10y tsy at 4% becuse it would reach 5.5%...

MS is fighting hard to beat GS on their trade ideas

Thu, 10/28/2010 - 13:02 | 683682 drswhaley

Where do we send donations to the charity handling the losses for Tepper & Paulson?

Thu, 10/28/2010 - 13:06 | 683695 optimator

To the Big House. No, not the one on Long Island, the one on the Hudson River above New York City.

Thu, 10/28/2010 - 13:06 | 683694 Attitude_Check

Our OW is predicated on these catalysts:

1) stabilizing loan balances and NII in 2q/3q 11;

2) capital management in 3q/4q11;

3) continued credit improvement;

and 4) stabilization of reps/warranties claims.

ROFL! You can't make this up! So obviously here in the real world, they are actually saying "sell mortimer sell!"

Thu, 10/28/2010 - 13:08 | 683699 MeTarzanUjane

Traders, ramp toward the green zone begins.

Thu, 10/28/2010 - 13:08 | 683700 Sophist Economicus

A capital idea....

Thu, 10/28/2010 - 13:27 | 683754 bugs_

Uh yeah, well, um, its not _exactly_ one of our better ideas

Thu, 10/28/2010 - 15:18 | 684186 williambanzai7

There is a good reason why Jesse Livermore said never listen to anyone else.

Thu, 10/28/2010 - 23:29 | 685105 Johnny Yuma

Well Roger Lattimer, I mean, Brian Moynihan will be terribly upset by this announcement.

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Morgan Stanley Removes Bank Of America From "Best Ideas" List

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