Investors that held onto their Bank of America (NYSE:BAC) shares over the past 15 months are undoubtedly pleased. The stock is up more than 111%, and optimism around the stock is reaching new heights. While still trading well below book value, some may be wondering if the shares have been bid up by feared "dumb money" from careless investors.

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer discuss whether or not investors are ignoring the potential downside of an investment in the Charlotte, NC-based megabank. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.