John Paulson Tells Investors He's Getting Less Bullish On Bank Of America

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John Paulson has been a staunch Bank of America bull for some time now, but he’s obviously been getting shredded in recent days, as the bank comes under mortgage-putback pressure.

He’s still long, but his view is growing dimmer.

According to Teri Buhl at, he’s lowering his outlook for the company’s earnings to $2.66 for 2012 (from a previous estimate of $3). Still though, at a 10x multiple, that would value the company well beyond where it is now.

Click here to see a background on Bank of America’s possible mortgage putback exposure >

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