Bank fundamentals are the hardest to examine because, for instance, they can keep cash on their books recorded that’s not theirs, etc.
So it’s best to base them off of things like book value.
Forward P/E is almost 17.
I don’t like the way it looks on its weekly chart (trading below some major moving averages and a declining 50-week simple moving average).
It traded up with the market (with overly positive sentiment) and it could trade down with the overall market later.
Yep, Buffett owns a ton of it and he may be right. But keep in mind, he can buy it in Berkshire and he doesn’t care if it takes until after he dies to pan out. That’s not most people’s situation in life. Also, he’s got $147 billion in cash and he wants to invest some for long-term dividend yield. But we have to invest differently than him due to our time horizons. But yes, he might be right. But I’m not comfortable with it. I’ve been watching his buys.
Also, investing is relative. The money that could be put into BAC could have also been put into silver, etc. which would have performed far better. I think SAN stands the chance to outperform BAC too.