Pondering Bank of America’s Balance Sheet

As far as the market is concerned, more than half of the company’s book value is bogus, due to overstated assets, understated liabilities, or some combination of the two. [Jonathan Weil/Bloomberg]

As far as the market is concerned, more than half of the company’s book value is bogus, due to overstated assets, understated liabilities, or some combination of the two. [Jonathan Weil/Bloomberg]

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