Oct 6, 2008

Bank of America Halving Dividend

One of the big doubts that I had a few weeks back was the ability of Bank of America to maintain its dividend. Turns out BAC is cutting its dividend by 50% on its common stock and also planning to issue new stock. This is going to be a long, rough financial year. I don't have any positions in BAC nor in any other financials, but right now the entire market is looking gloomy (for people already invested into stocks). If anybody is just entering the market, then you can search around and find some good bargains in companies with low debt. Definitely avoid the financial companies for any long term trading. If you want to do , intra-day high-low trading, you can try high volume stocks - look it up on yahoo here to decide which ones.
One company I would avoid is Citibank group (Ticker: C).

Some of my long term long sentiments include Bristol Myers (BMY), Asae Brown Boveri (ABB) and Nordic American Tanker Shipping (NAT). Do your own analysis, just use these as a starting point.
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