Click link for video: http://video.cnbc.com/gallery/?video=3000138778&play=1
The financial innovator said so on CNBC as he discussed his 2013 Forgotten Forty value shares. Bank of America stock is on the widely-followed list and doubled in the past year. Boyar was explaining why he’s not cashing out.
The annual list causes a stir because of its formidable record. In 2012, for instance, the Forgotten Forty rose 28.87%, nearly twice the S&P 500 gain of 15.31%. CNBC’s Gary Kaminsky declared that the Forgotten Forty has outperformed the S&P for “many, many years.”
Every December Boyar publishes The Forgotten Forty, which provides an updated investment thesis on 40 companies that he’s extensively researched over the past year, and are most likely to outperform the leading indices in the year ahead.
Bank of America stock climbed from $5.23 to $11.00 from December 2011 to December 2012, and Mark Boyar thinks it will keep rising. Still, Boyar feels Bank of America shares sell at a significant discount to book value. He says the financial giant is “probably” his favorite large-cap financial stock.
Want to know more? Come hear Mark Boyar at this May’s Value Investing Congress. Mark Boyar is founder and head of Boyar Research, Boyar Asset Management and Boyar Value Fund. He’ll discuss the Forgotten Forty and other topics at the 8th Annual Spring Value Investing Congress in Las Vegas, on May 6th and 7th.
The Congress is expected to sell out, and people are encouraged to register early. Those who sign up by February 18th, will save $1,700. Go to www.ValueInvestingCongress.com. The discount code is S13GB4.