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Despite spending about half of 2012 under 13,000, the Dow Jones Industrial Average managed to finish strong and close out the year at 13,104.14. The Dow Jones Industrial Average returned 7.26% in 2012, as 25 of the 30 staple stocks ended the year higher. In 2012, 4 Dow stocks were the biggest winners for patient, year-long investors. Each of the winners revealed recovery was evident in various sectors – banking, home improvement/retail, and media/entertainment. Here’s a closer look at the 4 Dow Darlings of 2012:
1) Bank of America (NYSE:BAC) Closing price in 2012: $11.61
Shares of Bank of America more than doubled in 2012 for its most loyal stock believers. Investors ranging from the steady Warren Buffett to the boisterous Donald Trump publicly supported Bank of America’s stock earlier in the year. Well, at the end of 2012, anyone who boldly believed in Bank of America’s stock laughed their way to the bank. One important fundamental metric to keep in mind is the company’s book value, which sits pretty at $20.40 per share. BAC’s 2012 closing price is still 75.7% below its book value and is well below it’s 2006 high in the $50s. With the fiscal cliff deal potentially easing investor minds, will Bank of America remain in favor in 2013?
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