Some field service representatives lost their jobs in 2013 when Bank of America (BAC) decided that it no longer wanted field services to be part of its core business. Robert Klein at Safeguard Properties purchased Bank of America Field Services. Unfortunately, some of the Bank of America Field Services field representatives lost their jobs during the transition.
The mortgage segment of the field services is trending down because delinquencies and foreclosures are trending down. Bank of America has become a much stronger bank during the last 12 months. During this time, the price of Bank of America stock has doubled. Check out the chart.
In the short term, Robert Klein would have done better investing in Bank of America stock rather than purchasing its field services operations. A ten million dollar stock investment 12 months ago would have grown to about 20 million dollars today. I see 2013 dividend increases, stock buybacks and the stock doubling again in about 18 months. I wonder if Robert Klein owns any of this bank's stock. I am in BAC for the long term. Call me Robert if you want to talk about some stocks in which to invest.
Be sure to talk to a stock market professional before you invest.
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