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 Non-Tech : All Industries Value Investing

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From: Jerrymac2/22/2012 12:51:47 PM
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BAC....FWIW

12:16 PM Single family RE in Daytona Beach has reached Depression levels, writes Robert Sinn, with cap rates of 20%, i.e. operating income of $20K on a $100K purchase. With the cost of capital less than 5%, well, you do the math. Bank of America ( BAC) owns at least 1/3 of single-family RE there, and may not have taken the marks yet - something to think about the next time someone says BofA is cheap on a price/book basis. [ U.S. Economy, Financials] Comment!
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