Monday, December 5, 2011

Uncle Buffet Has to Be Pleased about the Bank of America (BAC) Investment the Past Week

Remember when Bank of America (BAC) was poised to break the all important $5 barrier five sessions ago (Tuesday).  Rumors are that the central bank swap line announcement Wednesday morning was to save the cake of a major European bank - one wonders if the timing was also (or solely) to benefit BAC.  The Fed apparently voted on this Monday morning - the stock would have been around $5.10s.  I will check with the black helicopters.

All I know is Mr. Buffet has made up a lot of unrealized losses in the past week - a cool 17% rally.

No position

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