Top Pick for 2013: Dell, With a Twist
Only because it's fun to do, I like to make a stab at a top stock pick each year. Last year, the choice was easy: Bank of America (BAC) was trading at less than $6 a share, at a $60 billion market cap and a fraction of tangible book value. While it was my top pick for 2012, I really suggested that Bank of America would be an excellent multi-year investment, as is often the case with troubled business.
Mr. Market liked Bank of America in 2012: Shares appreciated 104% during that time. Despite trading at $12, Bank of America could still advance another 100%, although that may perhaps take two years or more. That's why I moved out of the common stock late in 2012 and into the Class A warrants, which expire in 2019 and have a strike price of $13.30....584 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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