Warren Buffett Owns a Lot of Stocks -- Here's the 1 I'm Most Excited About

Motley Fool2023-03-29

With the banking sector in crisis and Warren Buffett being very well versed in the industry, there's been a lot of speculation circulating about how Buffett's company Berkshire Hathaway (BRK.A 0.07%) ...

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Comments

OutOfTheBox
2023-03-29
OutOfTheBox
If interest rate stayed at current level for a long period, those holding their breath under the water need to have lots of air in their lungs!
Toby_Chua
2023-03-29
Toby_Chua
Short term punt turns into long term holding
MultiBaggers
2023-03-29
MultiBaggers
I hate to say this but I rather buy DBS Group as compared to BAC
- Asphen:
  different cost view
RL7741
2023-03-29
RL7741
Good sharing [Smile]

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href=https://www.fool.com/investing/2023/03/28/warren-buffett-owns-a-lot-of-stocks-heres-the-1-im/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With the banking sector in crisis and Warren Buffett being very well versed in the industry, there's been a lot of speculation circulating about how Buffett's company Berkshire Hathaway (BRK.A 0.07%) ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/03/28/warren-buffett-owns-a-lot-of-stocks-heres-the-1-im/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4207","symbol_name":"综合性银行","start_time":0,"source_url":"https://www.fool.com/investing/2023/03/28/warren-buffett-owns-a-lot-of-stocks-heres-the-1-im/","article_id":"2322426051","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2322426051","pubTimestamp":1680072392,"columns":[],"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"It's always a good idea to check Berkshire Hathaway's portfolio for new stock ideas.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4207":"综合性银行","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE00BBT3K403.USD":"LEGG 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While Berkshire owns many stocks in many industries, the one I'm most excited about is Bank of America (BAC -0.35%), which is the second-largest position in Berkshire's portfolio, although it has sold off intensely along with the rest of the banking sector.This presents a good opportunity to get in on America's largest bank, as the stock hits lows not seen since the middle of 2020 when the pandemic was raging.Image source: The Motley Fool.The elephant in the portfolioNow, there's a good reason that Bank of America has sold off this month. After the collapse of SVB Financial, the market has been paying close attention to banks with an outsized amount of unrealized losses in their held-to-maturity (HTM) bond portfolios.HTM bonds are those that banks intend to hold until they mature, and they are not accounted for in a bank's equity calculation each quarter. So if Bank of America ever did see significant deposit outflows and had to sell these bonds while they traded at a loss, they would wipe out a significant amount of shareholder equity. At the end of 2022, Bank of America had close to $172 billion of tangible common equity and nearly $109 billion of unrealized losses sitting in its HTM folder.That's a lot of unrealized losses to be sure, but Bank of America is nothing like SVB. It operates all over the U.S. and world and has one of the largest commercial lending franchises worldwide. It also has more than $1 trillion of retail deposits and operates a large investment bank and a large wealth business.Bank of America's deposit base is much more diverse than SVB's -- arguably one of the most, if not the most, diverse in the industry. At the end of 2022, Bank of America had more than 112.7 million bank accounts each with less than the $250,000 limit insured by the Federal Deposit Insurance Corp. (FDIC).No signs of liquidity issues -- quite the contraryAs long as Bank of America holds bonds until maturity, it will not incur any unrealized losses. Additionally, with the 10-year U.S. Treasury yield now down close to 70 basis points (each basis point equals 1/100 of a percentage point) since early March, some of Bank of America's unrealized losses among its U.S. Treasury bills should decline, allowing it to potentially reposition the balance sheet.There's also been no sign that Bank of America is having any issues with liquidity. In mid-March, right after the collapse of SVB and Signature Bank, media outlets reported that Bank of America had quickly vacuumed up $15 billion of deposits. Additionally, on March 22, Bank of America said it had redeemed $1 billion of fixed- and floating-rate senior notes, more than a year ahead of schedule. Bank of America also injected $5 billion of deposits into First Republic, all actions that suggest it is not dealing with liquidity issues. It's hard to say at this moment how all of this plays out because there are a lot of variables when thinking about how deposits are trending right now. Yes, Bank of America is likely seeing more deposit inflows, but it also has a lot of customers in cheaper checking accounts that could be rotating into higher-yielding bank account products.I also don't think Bank of America is going to be overly eager to deploy new deposits right now into anything with extended maturities, given the volatility, although there is a case of perhaps putting funds into short-term securities. But I don't believe Bank of America is experiencing any liquidity issues that would lead it to have to sell any of its bonds. On the contrary, deposits may have increased in the first quarter more than the bank had expected before SVB failed.A great entry pointThere's still plenty of uncertainty out there, and I can't tell you whether the turmoil has run its course. The economy may also now be headed for a recession. While there may be some earnings challenges ahead, I expect Bank of America to still be a good long-term performer. Bank of America now trades at just 123% of its tangible book value, or net worth, which is toward the very bottom of where it has traded since 2017.There's a reason Berkshire has increased its position in Bank of America even as it has sold other bank stocks over the last three years; it's because the bank can weather and successfully navigate a difficult environment. I expect this time to be no different.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9941178343,"gmtCreate":1680087207683,"gmtModify":1680087212068,"author":{"id":"3576212957996646","authorId":"3576212957996646","name":"OutOfTheBox","avatar":"https://static.tigerbbs.com/63123e2caca1a153632a394808fd6952","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576212957996646","authorIdStr":"3576212957996646"},"htmlText":"If interest rate stayed at current level for a long period, those holding their breath under the water need to have lots of air in their lungs!","listText":"If interest rate stayed at current level for a long period, those holding their breath under the water need to have lots of air in their lungs!","text":"If interest rate stayed at current level for a long period, those holding their breath under the water need to have lots of air in their lungs!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9941178343","repostId":2322426051,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9941155042,"gmtCreate":1680074985986,"gmtModify":1680074989504,"author":{"id":"3576326749731922","authorId":"3576326749731922","name":"Toby_Chua","avatar":"https://community-static.tradeup.com/news/82ec063fd73ccbceee82eab015cdf3fd","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":7,"crmLevelSwitch":1,"idStr":"3576326749731922","authorIdStr":"3576326749731922"},"htmlText":"Short term punt turns into long term holding&nbsp;","listText":"Short term punt turns into long term holding&nbsp;","text":"Short term punt turns into long term holding","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9941155042","repostId":2322426051,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9941152914,"gmtCreate":1680074149738,"gmtModify":1680074153598,"author":{"id":"3554939006845853","authorId":"3554939006845853","name":"MultiBaggers","avatar":"https://static.tigerbbs.com/86270a3d55dc49ab5a1df140d4a7e80d","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3554939006845853","authorIdStr":"3554939006845853"},"htmlText":"I hate to say this but I rather buy DBS Group as compared to BAC","listText":"I hate to say this but I rather buy DBS Group as compared to BAC","text":"I hate to say this but I rather buy DBS Group as compared to BAC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9941152914","repostId":2322426051,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":106184949,"gmtCreate":1680329277601,"gmtModify":1680329281180,"authorId":3576339097425722,"author":{"id":3576339097425722,"idStr":"3576339097425722","authorId":3576339097425722,"name":"Asphen","avatar":"https://community-static.tradeup.com/news/55ff1b64b2787933c17d863ecae83f09","vip":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly Top Contributor","description":"Contributors with best Editor's Picks every week","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":2,"allocatedDate":"2022.08.08","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2004},"crmLevel":8,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9941152914,"type":1,"supId":0,"prevId":0,"content":"different cost view","text":"different cost view","html":"different cost view"}],"langContent":"EN"},{"id":9941156517,"gmtCreate":1680073616940,"gmtModify":1680073620958,"author":{"id":"3585382015740768","authorId":"3585382015740768","name":"RL7741","avatar":"https://community-static.tradeup.com/news/cc534d52d2b9325d1a2e19f4cf928bc2","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3585382015740768","authorIdStr":"3585382015740768"},"htmlText":"Good sharing&nbsp;[Smile]&nbsp;","listText":"Good sharing&nbsp;[Smile]&nbsp;","text":"Good sharing [Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9941156517","repostId":2322426051,"repostType":4,"repost":{"id":"2322426051","kind":"highlight","pubTimestamp":1680072392,"share":"https://ttm.financial/m/news/2322426051?lang=&edition=fundamental","pubTime":"2023-03-29 14:46","market":"us","language":"en","title":"Warren Buffett Owns a Lot of Stocks -- Here's the 1 I'm Most Excited About","url":"https://stock-news.laohu8.com/highlight/detail?id=2322426051","media":"Motley Fool","summary":"It's always a good idea to check Berkshire Hathaway's portfolio for new stock ideas.","content":"<html><head></head><body><p>With the banking sector in crisis and Warren Buffett being very well versed in the industry, there&#39;s been a lot of speculation circulating about how Buffett&#39;s company <strong>Berkshire Hathaway</strong> (BRK.A 0.07%) (BRK.B -0.11%) might invest in regional bank stocks.</p><p>It&#39;s certainly possible, but if investors are looking for ideas right now, they need to look no further than Berkshire&#39;s existing portfolio. While Berkshire owns many stocks in many industries, the one I&#39;m most excited about is <strong>Bank of America</strong> (BAC -0.35%), which is the second-largest position in Berkshire&#39;s portfolio, although it has sold off intensely along with the rest of the banking sector.</p><p>This presents a good opportunity to get in on America&#39;s largest bank, as the stock hits lows not seen since the middle of 2020 when the pandemic was raging.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/53314ba83efaf3c3bea9bc5b7da39cba\" tg-width=\"700\" tg-height=\"466\"/></p><p>Image source: The Motley Fool.</p><h2>The elephant in the portfolio</h2><p>Now, there&#39;s a good reason that Bank of America has sold off this month. After the collapse of <strong>SVB Financial</strong>, the market has been paying close attention to banks with an outsized amount of unrealized losses in their held-to-maturity (HTM) bond portfolios.</p><p>HTM bonds are those that banks intend to hold until they mature, and they are not accounted for in a bank&#39;s equity calculation each quarter. So if Bank of America ever did see significant deposit outflows and had to sell these bonds while they traded at a loss, they would wipe out a significant amount of shareholder equity. At the end of 2022, Bank of America had close to $172 billion of tangible common equity and nearly $109 billion of unrealized losses sitting in its HTM folder.</p><p>That&#39;s a lot of unrealized losses to be sure, but Bank of America is nothing like SVB. It operates all over the U.S. and world and has one of the largest commercial lending franchises worldwide. It also has more than $1 trillion of retail deposits and operates a large investment bank and a large wealth business.</p><p>Bank of America&#39;s deposit base is much more diverse than SVB&#39;s -- arguably one of the most, if not the most, diverse in the industry. At the end of 2022, Bank of America had more than 112.7 million bank accounts each with less than the $250,000 limit insured by the Federal Deposit Insurance Corp. (FDIC).</p><h2>No signs of liquidity issues -- quite the contrary</h2><p>As long as Bank of America holds bonds until maturity, it will not incur any unrealized losses. Additionally, with the 10-year U.S. Treasury yield now down close to 70 basis points (each basis point equals 1/100 of a percentage point) since early March, some of Bank of America&#39;s unrealized losses among its U.S. Treasury bills should decline, allowing it to potentially reposition the balance sheet.</p><p>There&#39;s also been no sign that Bank of America is having any issues with liquidity. In mid-March, right after the collapse of SVB and <strong>Signature Bank</strong>, media outlets reported that Bank of America had quickly vacuumed up $15 billion of deposits. Additionally, on March 22, Bank of America said it had redeemed $1 billion of fixed- and floating-rate senior notes, more than a year ahead of schedule. Bank of America also injected $5 billion of deposits into <strong>First Republic</strong>, all actions that suggest it is not dealing with liquidity issues. </p><p>It&#39;s hard to say at this moment how all of this plays out because there are a lot of variables when thinking about how deposits are trending right now. Yes, Bank of America is likely seeing more deposit inflows, but it also has a lot of customers in cheaper checking accounts that could be rotating into higher-yielding bank account products.</p><p>I also don&#39;t think Bank of America is going to be overly eager to deploy new deposits right now into anything with extended maturities, given the volatility, although there is a case of perhaps putting funds into short-term securities. But I don&#39;t believe Bank of America is experiencing any liquidity issues that would lead it to have to sell any of its bonds. On the contrary, deposits may have increased in the first quarter more than the bank had expected before SVB failed.</p><h2>A great entry point</h2><p>There&#39;s still plenty of uncertainty out there, and I can&#39;t tell you whether the turmoil has run its course. The economy may also now be headed for a recession. While there may be some earnings challenges ahead, I expect Bank of America to still be a good long-term performer. </p><p>Bank of America now trades at just 123% of its tangible book value, or net worth, which is toward the very bottom of where it has traded since 2017.</p><p>There&#39;s a reason Berkshire has increased its position in Bank of America even as it has sold other bank stocks over the last three years; it&#39;s because the bank can weather and successfully navigate a difficult environment. I expect this time to be no different.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett Owns a Lot of Stocks -- Here's the 1 I'm Most Excited About</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett Owns a Lot of Stocks -- Here's the 1 I'm Most Excited About\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-29 14:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2023/03/28/warren-buffett-owns-a-lot-of-stocks-heres-the-1-im/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With the banking sector in crisis and Warren Buffett being very well versed in the industry, there's been a lot of speculation circulating about how Buffett's company Berkshire Hathaway (BRK.A 0.07%) ...</p>\n\n<a href=\"https://www.fool.com/investing/2023/03/28/warren-buffett-owns-a-lot-of-stocks-heres-the-1-im/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0234570918.USD":"高盛全球核心股票组合Acc Close","BK4581":"高盛持仓","BK4504":"桥水持仓","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","BRK.B":"伯克希尔B","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","BRK.A":"伯克希尔","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4176":"多领域控股","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4553":"喜马拉雅资本持仓","LU0106831901.USD":"贝莱德世界金融基金A2","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4550":"红杉资本持仓","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","BK4588":"碎股","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","BAC":"美国银行","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4207":"综合性银行","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus"},"source_url":"https://www.fool.com/investing/2023/03/28/warren-buffett-owns-a-lot-of-stocks-heres-the-1-im/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2322426051","content_text":"With the banking sector in crisis and Warren Buffett being very well versed in the industry, there's been a lot of speculation circulating about how Buffett's company Berkshire Hathaway (BRK.A 0.07%) (BRK.B -0.11%) might invest in regional bank stocks.It's certainly possible, but if investors are looking for ideas right now, they need to look no further than Berkshire's existing portfolio. While Berkshire owns many stocks in many industries, the one I'm most excited about is Bank of America (BAC -0.35%), which is the second-largest position in Berkshire's portfolio, although it has sold off intensely along with the rest of the banking sector.This presents a good opportunity to get in on America's largest bank, as the stock hits lows not seen since the middle of 2020 when the pandemic was raging.Image source: The Motley Fool.The elephant in the portfolioNow, there's a good reason that Bank of America has sold off this month. After the collapse of SVB Financial, the market has been paying close attention to banks with an outsized amount of unrealized losses in their held-to-maturity (HTM) bond portfolios.HTM bonds are those that banks intend to hold until they mature, and they are not accounted for in a bank's equity calculation each quarter. So if Bank of America ever did see significant deposit outflows and had to sell these bonds while they traded at a loss, they would wipe out a significant amount of shareholder equity. At the end of 2022, Bank of America had close to $172 billion of tangible common equity and nearly $109 billion of unrealized losses sitting in its HTM folder.That's a lot of unrealized losses to be sure, but Bank of America is nothing like SVB. It operates all over the U.S. and world and has one of the largest commercial lending franchises worldwide. It also has more than $1 trillion of retail deposits and operates a large investment bank and a large wealth business.Bank of America's deposit base is much more diverse than SVB's -- arguably one of the most, if not the most, diverse in the industry. At the end of 2022, Bank of America had more than 112.7 million bank accounts each with less than the $250,000 limit insured by the Federal Deposit Insurance Corp. (FDIC).No signs of liquidity issues -- quite the contraryAs long as Bank of America holds bonds until maturity, it will not incur any unrealized losses. Additionally, with the 10-year U.S. Treasury yield now down close to 70 basis points (each basis point equals 1/100 of a percentage point) since early March, some of Bank of America's unrealized losses among its U.S. Treasury bills should decline, allowing it to potentially reposition the balance sheet.There's also been no sign that Bank of America is having any issues with liquidity. In mid-March, right after the collapse of SVB and Signature Bank, media outlets reported that Bank of America had quickly vacuumed up $15 billion of deposits. Additionally, on March 22, Bank of America said it had redeemed $1 billion of fixed- and floating-rate senior notes, more than a year ahead of schedule. Bank of America also injected $5 billion of deposits into First Republic, all actions that suggest it is not dealing with liquidity issues. It's hard to say at this moment how all of this plays out because there are a lot of variables when thinking about how deposits are trending right now. Yes, Bank of America is likely seeing more deposit inflows, but it also has a lot of customers in cheaper checking accounts that could be rotating into higher-yielding bank account products.I also don't think Bank of America is going to be overly eager to deploy new deposits right now into anything with extended maturities, given the volatility, although there is a case of perhaps putting funds into short-term securities. But I don't believe Bank of America is experiencing any liquidity issues that would lead it to have to sell any of its bonds. On the contrary, deposits may have increased in the first quarter more than the bank had expected before SVB failed.A great entry pointThere's still plenty of uncertainty out there, and I can't tell you whether the turmoil has run its course. The economy may also now be headed for a recession. While there may be some earnings challenges ahead, I expect Bank of America to still be a good long-term performer. Bank of America now trades at just 123% of its tangible book value, or net worth, which is toward the very bottom of where it has traded since 2017.There's a reason Berkshire has increased its position in Bank of America even as it has sold other bank stocks over the last three years; it's because the bank can weather and successfully navigate a difficult environment. I expect this time to be no different.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":45,"commentSize":4,"repostSize":1,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2322426051"}