John Paulson lowers long term view on Bank of America

October 22nd, 2010
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Contributed by: Teri Buhl
John Paulson told investors today he still likes his long trade in Bank of America but has now lowered his outlook on how far robust the bank can book earning per shares in 2012. Last summer Paulson, the well-known founder of hedge fund manager Paulson & Co, was telling investors he predicts BofA to score a whopping $3 EPS by the begining of 2012. Today he changed that target to $2.66 normalized EPS in 2012. If you assume a price to earning ratio of 10 that would equal around $26 dollars a share on $BAC. Jon Paulson’s 167 million shares of this mega bank sits in his Paulson Recovery Fund.

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Paulson & Co.
Related People: Andrew Hoine; John Paulson; Mena Gerowin*; Mike Barr; Sheru Chowdhry; Stuart Merzer
Related Entities: Paulson Advantage Master Ltd; Paulson Advantage Plus Master Ltd; Paulson Real Estate Recovery Fund; Paulson Recovery Fund; PCI
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Resources and Featured Partner News

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