The Takeaway: BofA stock smoking hot ahead of earnings

Portfolio

This is where the link to a “Bernanke testimony preview” would go if I were including one.  (REDACTED)

Growth stocks are starting to take the lead – BAML  (The Reformed Broker)

Blackstone’s multi-manager hedge fund mutual fund is now live and available for retail orders, for the bargain price of just 325 bps.  (ValueWalk)

The Biz

You guys are doing it wrong – the whole key is to be born into a lot of money.  (Washington Post)

Fidelity says the average balance in its 7 million customer IRA accounts is now $81,100,up 53% since 2008. What financial repression?  (Think Advisor)

Raymond James seeks expansion opportunity out west.  (Financial Planning)

I can’t understand how Schwab can be doing so well on revenue growth but not make much money – this is like the 6th straight quarter of flat- to down earnings.  (Think Advisor)

Meanwhile, Bank of America is screaming into its earnings report tomorrow, new 52-week highs with a 32% profit jump expected.  (Working Capital)

Outliers

re: Eddie Lampert’s Ayn Randian experiment at Sears Holdings.  (New York Times)

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Disclaimer: Joshua Brown is an investment advisor representative with Fusion Analytics. The content above is for informational purposes only, nothing here should ever be construed as investment advice or a solicitation to trade any securities. Mr. Brown or his firm may be long or short securities mentioned above for client or personal accounts at any time.