Mark Holder
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Mark Holder in Out Fox The $treet,

Buy Alongside Bank Of America

Bank of America (BAC) announced an additional $800 million stock buyback. The authorization is on top of the $4.0 billion approved last year. The amount isn't large in comparison to the market cap of nearly $140 billion, but the move is a big signal that the market is wrong about the large bank. 

The stock trades at $13.75 with book value at $22.54. Even tangible book value is up at $15.62. Buy the stock alongside the company all day at this price.