âBank of America is a strong, well-led company, and I called Brian to tell him I wanted to invest in it,â Mr. Buffett said in a statement. âI am impressed with the profit-generating abilities of this franchise, and that they are acting aggressively to put their challenges behind them. Bank of America is focused on their customers and on serving them well. Thatâs what customers want, and thatâs the companyâs strategy.â LMAO, its such a well run company that the stock is now trading in the 5s. LMAO Buffet!!! LMAO!!!
Buffett is now a lender of last resort like the FED. And he will get certain guarantees that tilt any deal in his favor.
Spare me his loss that he didn't buy warrants. He's got preferred 6% yielding ponzi funds, so going down even 30% won't dissuade him from holding those for out to 50 years.
Those index puts he sold were bad. He had to roll them down because he was getting pressure to put up collateral (which was his real edge in the trade in first place). I think this trade will work out well for him. Even if it doesn't, he's built a machine (from nothing I might add) that generates 1Bn/month in cash. He gets some trades wrong (who doesn't), but over time he has shown that he has the ability to catch falling knives and the wherewithall to hold them to profitability. He gets asked a lot to put cash to defend businesses and he doesn't always do it. If he sucks so much, why aren't there more billionaires on this board?
After he bought Wells Fargo, the stock went down 50%. The problem is of course he is a value investor. Value investors are notorious regarding their bad timing. They are usually right in the end, but often go though a lot of pain. People on here are 'traders' and like to watch every tick. Buffy boy couldn't care less. Buffett has been through all this before, he ain't bothered. He'll be right in the end!
i think i heard this shit before..when he was buying GS in 2009 or 2008. ET was full of post like yours at that time. idiot,old fart,lost his mind..etc..well..after all he pocket 2+B on GS alone(correct me,if i'm wrong). who is laughing now? guys above are correct. he didn't bought a common shares of BAC. do some research,before you post your nonsense
You're so wrong its hilarious. Just because he has shares in BAC doesn't mean he went out and bought $5 billion worth at 7 bucks of common stock. You're crazy if you think Buffett, would just toss around a few billion dollars (not that he couldn't if he wanted too) and just hopes he makes money. He's a very smart man who pulled the same stint back in '08 with Goldman and GE (I believe, correct me if I'm wrong) during the meltdown. He wouldn't have made this deal if it didn't have hefty payouts to himself and didn't work out in his favor. Take two seconds next time and google Buffett and BofA before claiming he had poor judgement in the deal
There has been research, the best performing hedge funds have statistically speaking the worst performance for several years. Most top hedge funds are not all-weather funds. They do not get 10% a year for eternity. It goes like 25% one year, -5% one year etc. With you snapshotting a performance, you are doing a disservice.
even if he loses 3 billion on it still he is a billionaire and u r not... people do make mistake from time to time... didnt u?
IF you're going to drop names, at least learn how to spell it, FH. Buffett's personal net worth peaked at roughly $55 billion. Presently it's around $39 billion. IF and when YOU amass you're first billion, be sure and let us all know.