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Dealmaking is back with big banks like Bank of America, Merrill Lynch's wealth management comeback, IMAX's cash flow potential. Listener questions on tracking investments, leveraged shares, and life insurance. Stocks mentioned: BAC, MS, IMAX, AMZU, NVDU, SOXL
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Quick takeaways
- Bank of America's successful trading quarter demonstrates a surge in trader activities despite higher net charge-offs in credit cards and real estate.
- Growth in wealth management divisions of big banks is driven by factors like stock market performance and increased demand from older Americans seeking financial advice.
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Bank of America Reports Strong Trading Quarter
Bank of America had its best trading quarter in a decade, showcasing a significant increase in trader activities. Despite higher net charge-offs, particularly in credit cards and commercial real estate, the bank managed a successful trading performance.
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