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My namesake is 81...there is no more long-term for the codger; maybe this move was to spite the heirs.
Our BAC common model has fair value assessed at $2.05. We are not buying a penny beforehand. Sorry Warren, you were too early, as always. And your $5b preferred purchase increased our fair value target by only .05.
I'm convinced it wasn't Buffet own money, but Obama bucks (yours and mine) under the name of Buffet.
The entire ponzi plot thickens. Thugs make headlines today, no one else. White collar criminals are everywhere.
You know Goldman was just salivating at the stock pop. Time to get the weak hands out and short the shit out of BAC.
Fonzi, I mean, Warren, be careful water skiing! There's a shark up ahead!
What are the odds of this ending flat for the day?
SELL THE FUCKING SPIKE!
Tyler, this reads now ever more like a personal vendetta against BofA on your part. Think about Buffet whatever you like - his investment credentials are undisputable. (and yes, i know, past performance... etc). What about yours? Talk is cheap - as are most of your articles re. BofA and Buffet. At these levels I'd rather sell a boatload of these silly priced atm and otm puts on BofA then to get out of this stock. 2-3 years from now you (and many others) may well stare in disbelief at a bofA stock price of $20+ (without any reverse splits ond the likes) and kick yourself for letting bias and personal disliking getting in the way of a truly great money making opportunity.
"investment" opportunity? apparently, you're in line to get the same "preferred" terms as Buffet on his "preferred". this is a trade at best, imo.
perhaps someone's bunny just had a good nose yesterday as well considering the action in BAC.
unfortunately, it appears to me that the news yesterday that Schneiderman, the New York AG was kicked off the settlement panel jumpstarted the financial stock party.
i'm sure the timing is coincidental that Buffet makes this offer now.
personally, i would have regretted not selling the euphoria this morning.
Hell yeah. .25 for a Nov $4 put? I'll take 100.
Thanks for the heads-up - already up 15% !
Drudge Report has a headline stating Obama called Buffet prior to purchase....
He was guaranteed to get his money back from taxpayer dollars, duh...
There are still billions from the 2009 stimulus bill that remain unspent (yes the $864B one that had to be passed before yesterday, or life on earth would cease). You can bet that any investment lost to Buffet by buying a favor-stake in BofA will be replaced for the poor struggling Mr. Buffett out of the pockets of our children and grandchildren. But really, all of our banks are SOOOO healthy AND SOLVENT! Really, they're great....
Exhibit 1: Becky Quick "calls in" live to CNBC ( minutes after the BAC item crosses on the newswires ), clearly a team player: taking some time off from maternity leave/nursing the impressionable ( just like his mom ) Junior Quick with what appeared to be the residue of a private conversation with The Oracle. What we do not know is if the conversation was cellular via "private number" or familiar in nature.
Exhibit 2: Excerpt from today's Wall Street Journal:
"The billionaire investor told CNBC he was in the bathtub Wednesday morning, when he got the idea to approach Bank of America CEO Brian Moynihan about an investment in the bank. The Oracle of Omaha said an assistant phoned a Moynihan aide later that morning to pass on his private number so the two businessmen could talk."
Irish Spring, or is Uncle Warren a loofa and body wash kind of chap, Becky ? We await CNBC's "special report" for this actionable information, from the actionable financial news network.
What delicious irony.
Buffet got the idea to go 5 bln long in BAC while in the bathtub, and I got the idea to short BAC while taking a massive dump.
Oh, sour grapes, sour grapes ! But I'm in the money ! "Bank of America leads financials higher"---says the byline. And my 7.37 purchase is now profitable. As for the advice to sell into the rally; HA HA HA; yeah, sell into the rally; go right ahead. ha ha ha. Buffet bailed me out! HA HA HA. Sitting out the Silver market. I may put in a price order for 38.80 or better tomorrow, see if New York is gonna give out some love, or not. Maybe just save the free equity for my short long bond position; I'm going to be piling on that as it collapses; by Thanksgiving all those smart yound farts in the financial center trading departments will have paid for all my Christmas Shopping.
Even Buffet can't polish a turd!
Gotta get mine in for the ZH TIT TRIFECTA
Sure, you have made more money this year, than Buffet, silly.I feel sorry for you since you and your few clients miss a great opportunity!
Plad - Slaughterer - HWC - nice pics gentlemen!! However, my mind is either on sex or business, and I prefer not to combine the two. While pleasant to look at, I find your pics incredibly distracting in this environment. Just my .02.
It's like three racks talking back and forth...
Not because of your request, but due to the recent copy cats - I will be changing my avatar!
Yeah, it was all good when it was just you Plad. Hell, I looked forward to you posts just so I could see that beautiful set! It's gotten old with so many copycats and everyone using porn avatars. I must admit that you guys have impeccable tastes in tits!
Don't mind me... I thought it hilarious.
[Frankenstein, Igor and Inga in front of HUGE castle doors] Dr. Frederick Frankenstein: What knockers. Inga: Oh, thank you doctor.
Buffett to support EFSF with $70bn loan @10% plus option to buy Finland
4 pair of tits in the first 8 comments or so. Does this say something about a relationship between whores and banks?
Nice funbags though!!have to admit!
Maybe it's a sign of the times, since B of A is almost "tits up"?
What part of too big to fail is too complicated for you? Everyday you guys write, TBTF, TBTF this and TBTF that. IT MEANS EXACTLY WHAT IT SAYS. Warren Buffet bailed me out !!! HA HA; that should make a good conversation stopper at the golf club; "so how's your stock trading coming, Jim?" Oh, it's fine, Warren Buffet bailed me out this week" that should get 15 seconds of complete silence.
Crazy eh? Such a tell on the mind-set here. My theory, ZH is frequented by many old guys who probably feel guilty if they go watch porn. This is where they get their kicks. So many requests for larger sized pictures. Rather strange.
BAC is BACk. The Buffoon is not going to lose sleep if it goes down to $1. Who says he did not hedge this? Ehhhhhh?
Tits on ZH is tradition just as much as gold is tradition.
If you say so slaughterer.
Also, tits is a uniquely white/jewish fascination. In most of the east/africa, they were "ONLY" baby feeders.
Then the puritans came and ruined it all.
I've seen some of those Indian temple carvings, youse guys are into big round ones too!
I say it. He didn't hedge it. Now go light some cow dung and make yourself some breakfast; nitwit.
Warren Buffett, Amerikranski's ULTIMATE WELFARE QUEEN - stick him in a Sunrise Senior Living Center with 40 days worth of tapioca and Ensure in the fridge.
he shoud have had someone chew on his information for him
This was expected. $5 billion is not enough
done and done. just unfortunate he will not enjoy this payoff as he won't remember it...
Thanks for the laugh
Now down to just a 13% pop and dropping.
As expected, the devil is in the details, and the details have been published. Looks like desperation to me. BAC is probably locked out of the money markets.
Nice to see AAPL, a "toy producer" that just lost its CEO, outperforming the entire S&P 500 there for just a second. Things look really fixed.
Buffet probably has a backroom deal with the USG for a guaranteed bailout of the bank (or atleast his investment) if things go sour. What does the USG get out of it? A CONfidence play for the sheeple.
I can already hear Warren Buckethead lobbying for a bailout......
Some people challenged Buffet to send a check to the government after he asked for taxes on the rich to be raised.
Well, there it is. He just sent 5 billion $ to the government.
I think you have that exactly backwards
How so? The gov will bail out BAC before it goes bankrupt. Buffet is doing his (hopelessly futile) part to help the State.
OLD PEOPLE BITCHEZ!
He said he wanted to give away all his money before he died...did he ever specify how?
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