If You'd Invested $10,000 in Bank of America in 2007, This Is How Much You Would Have Today
When it comes to investing, timing can be a key determinant of long-term success. A quick comparison between Bank of America (NYSE: BAC) and Toronto-Dominion Bank (NYSE: TD) provides a stark example. If you go back a decade, Bank of America looks like a massive winner. But if you go back to 2007 the story is vastly different.
Bank of America is an iconic U.S. bank, with a massive network of branches and large business units in just about every key finance sub-sector from investment banking to credit cards. Over the past decade its stock has risen a healthy 190% or so. That easily trounces the roughly-65% gain in the price of Canadian peer Toronto-Dominion Bank, more commonly known as TD Bank. That relative performance might give investors the impression that Bank of America is a way better bank.
Image source: Getty Images.
Source Fool.com