Bank of America (BAC) had another strong quarter during Q3 yet the stock still trades below book value that is now up 10% YoY to $17.14. Earnings beat estimates by a wide $0.08 leaving the stock trading at about 10x estimates. The part that makes the stock a no brainer outside the valuation metrics is the bank is positioned to benefit from rising interest rates. Bank of America forecasts a $5.3 annual benefit from a 100bps parallel shift in the interest rate yield curve. The stock is struggling today so don't be surprise if Bank of America dips again. The stock remains an extreme bargain on dips. Disclosure: No position