Doug Ciocca, chief executive officer of Kavar Capital Partners, says former Countrywide Financial chief executive officer Angelo Mozilo is Punxsutawney Phil in the continuing Groundhog Day of Bank of America’s earnings reports which seem to constantly feature mortgage litigation and settlement costs. Ciocca also says Bank of America doesn’t seem be to tapping into the cross-selling opportunities with its Merrill Lynch wealth management business. Ciocca sees value in banks and financial services broadly but does not have a position in Bank of America. Ciocca speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage”.
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