Why Does Warren Buffett Own BAC Stock?
When Warren Buffett bought $5.0 million worth of shares in Bank of America Corp (NYSE:BAC), it raised a lot of eyebrows. It was in 2011, just three years after the financial crisis, and investors were still wary of BAC stock.
They were skeptical about all financials, but Bank of America was a special case. After all, the company had adopted a ton of risky loans when it bought Merrill Lynch and Countrywide Financial. The downside risk was gargantuan.
Most investors were too scared to see the logic of Buffett's move. I remember it.
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When Warren Buffett bought $5.0 million worth of shares in Bank of America Corp (NYSE:BAC), it raised a lot of eyebrows. It was in 2011, just three years after the financial crisis, and investors were still wary of BAC stock.
They were skeptical about all financials, but Bank of America was a special case. After all, the company had adopted a ton of risky loans when it bought Merrill Lynch and Countrywide Financial. The downside risk was gargantuan.
Most investors were too scared to see the logic of Buffett's move. I remember it.
Den vollständigen Artikel lesen ...