Vardy's View: 11 Reasons to Bet on Bank of America
With the U.S. stock market regaining its momentum over the past week, a surprising number of Alpha Algorithm strategies increased their bets on the financial sector, explains Nicholas Vardy, editor Vardy's Alpha Algorithm, a data-driven wealth system.
Our latest recommendation highlights that trend, as well. Founded in 1874 and based in Charlotte, North Carolina, Bank of America Corporation (BAC) is one of the world's leading financial services companies.
It operates through four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets.
It provides its products and services to consumers through approximately 4,600 financial centers, 15,900 ATMs, call centers and online and mobile platforms.
Here's a review of 11 top investment strategies that are currently betting on Bank of America:
- Value Tilt
Selected using a multi-factor modeling approach, the company is a value stock designed to enhance portfolio risk/return characteristics.
- Hedge Fund Alpha
Based on publicly available disclosures, successful hedge fund managers are investing in the stock.
- Billionaire Bet
The stock is one of 30 U.S. companies tracked in an equal-weighted index selected from the portfolios of 10 asset managers with a personal net worth of at least $1 billion.
- Goldman Sachs Hedge Fund Index
The stock is part of the Goldman Sachs Hedge Industry Index, which tracks an equal-weighted index of the 50 most frequently held U.S. companies selected from the portfolios of hedge funds.
- Goldman Sachs’ Active Beta
The stock is selected according to four factors -- value, quality, momentum and low volatility.