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Moynihan Says His Entire Net Worth Is In BAC Stock

Tyler Durden's picture


... then it's not a very big net worth, we are sorry to say (and it will get even smaller).

And a chart of his net worth:

And some perspective from last year:


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Wed, 08/10/2011 - 14:15 | 1547417 SparkySC
SparkySC's picture

What Diversification! LOL 

What a retard.


All his eggs are in one basket?


Wed, 08/10/2011 - 14:16 | 1547423 kito
kito's picture

i believe you meant "all his eggs are in one frying pan"?  

Wed, 08/10/2011 - 14:21 | 1547449 Rahm
Rahm's picture

I believe you meant "all his eggs are in the toilet"? 



Wed, 08/10/2011 - 14:25 | 1547467 malikai
malikai's picture

Thanks Mr. Moynihan. I was on the other side of that trade. But I'll buy those shares back with my Oct $9 calls after QE3, maybe.

Wed, 08/10/2011 - 14:27 | 1547473 unwashedmass
unwashedmass's picture

liar liar pants on fire.

Wed, 08/10/2011 - 14:42 | 1547546 Silver Dreamer
Silver Dreamer's picture

Those are not eggs.

Wed, 08/10/2011 - 17:35 | 1548568 masterinchancery
masterinchancery's picture

Soon it will be: Buddy, can you spare a dime?

Wed, 08/10/2011 - 14:18 | 1547437 Duesco
Duesco's picture

A basket made of plutonium.


Full of anthrax.


That's also on fire.

Wed, 08/10/2011 - 14:48 | 1547570 Ethics Gradient
Ethics Gradient's picture

Sorry to be a party pooper, but I read that as assets - liabilities = assets held in BAC.

Should still mean he's going to have to explain to his wife why he's out of a job and they have to sell the furniture, though.

Wed, 08/10/2011 - 16:45 | 1548269 Hephasteus
Hephasteus's picture

A basket made of plutonium.


Full of anthrax.


That's also on fire.


That has birth defects from anti-depression pills.


And is full of fail.

Wed, 08/10/2011 - 14:22 | 1547454 schoolsout
schoolsout's picture

Unrelated...well, somewhat, but buddy just texted that he heard Obama is to meet with Fed...


Anyone heard this yet?

Wed, 08/10/2011 - 15:10 | 1547643 NotApplicable
NotApplicable's picture

Dumb and Dumber.

Wed, 08/10/2011 - 15:38 | 1547755 Manthong
Manthong's picture

Nothing like a few arsonists getting together for a meeting about how to control their fires.

Wed, 08/10/2011 - 14:40 | 1547534 runlevel
runlevel's picture

but buddy

Wed, 08/10/2011 - 15:02 | 1547611 darteaus
darteaus's picture

Watch the silverware.


Wed, 08/10/2011 - 15:20 | 1547672 optimator
optimator's picture

Barry, your manager is here to see you.

Wed, 08/10/2011 - 16:20 | 1548029 11b40
11b40's picture

Question is....who called the meeting?

Wed, 08/10/2011 - 14:40 | 1547530 AmCockerSpaniel
AmCockerSpaniel's picture

As the Cubans in South Florida say; All his eggs are under one chicken.

Wed, 08/10/2011 - 14:41 | 1547532 Pladizow
Pladizow's picture

Why would you believe him?????????????????

How many off shore, hidden accounts and assets do you think a guy of his caliber has - the answer is definitely not zero!

Wed, 08/10/2011 - 15:05 | 1547628 Rick64
Rick64's picture

Exactly, when has one of these guys ever told the truth pubicly. An attempt to restore some confidence based on lies.

Wed, 08/10/2011 - 15:21 | 1547677 Big Corked Boots
Big Corked Boots's picture

It would be funny if it turned out he's got a few stacks of kilo bars offshore.

Wed, 08/10/2011 - 15:16 | 1547662 Iam Rich
Iam Rich's picture

Retarded...that was my first thought also (well, actually, f'ing retarded, but why quibble).

Thu, 08/11/2011 - 05:39 | 1550038 fx
fx's picture

Love those BAC bashing going on here unabated. Seems Zh really has some axe to grind with BofA. I loved the article where the tough questions to be asked in the berkowitz call were listed - that was good stuff, indeed. But apart from that there is pretty much pure bashing lacking any substance. I am a buyer of BAC here, let's see who will have the last laugh...

Wed, 08/10/2011 - 14:16 | 1547420 etrader
etrader's picture

Its also coming upto "redemptions" Friday.

Its going to get messy on that frount.

Wed, 08/10/2011 - 14:16 | 1547422 FaithEqualsZero
FaithEqualsZero's picture

Why would you broadcast that? Dooohh

Wed, 08/10/2011 - 14:16 | 1547428 Buckaroo Banzai
Buckaroo Banzai's picture

...and you believed him?

I'm quite confident he's lying.

Wed, 08/10/2011 - 14:28 | 1547476 MolotovCockhead
MolotovCockhead's picture

Could be true for all we know. Those bastards have the habits of spending money on high class hookers and cokes, fine wine and expensive booze!

Wed, 08/10/2011 - 14:29 | 1547481 slackrabbit
slackrabbit's picture





Wed, 08/10/2011 - 14:17 | 1547429 bob_dabolina
bob_dabolina's picture


Either he is a liar, or just pathetic.

Wed, 08/10/2011 - 14:43 | 1547548 Pladizow
Pladizow's picture


Wed, 08/10/2011 - 14:53 | 1547578 bob_dabolina
bob_dabolina's picture

My faux pas, I apologize. He is a pathetic liar.

Wed, 08/10/2011 - 14:17 | 1547430 machineh
machineh's picture

You're telling me that the CEO of a money-center bank never learned the most basic investment principle of diversification?

What is this fool doing, running an investment institution?

Where do they find these brain-damaged losers?

Wed, 08/10/2011 - 14:44 | 1547552 Pladizow
Pladizow's picture

"Diversification is for the uninformed" - Warren Buffet?

Wed, 08/10/2011 - 14:59 | 1547601 hedgeless_horseman
hedgeless_horseman's picture

Diversification guarantees mediocrity.

Wed, 08/10/2011 - 15:26 | 1547702 Dental Floss Tycoon
Dental Floss Tycoon's picture

Diversification for me is 1/4 gold and 3/4 silver.

Wed, 08/10/2011 - 16:44 | 1548254 Hephasteus
Hephasteus's picture

The old string to wax formula. Always works.

Wed, 08/10/2011 - 14:17 | 1547431 ReallySparky
ReallySparky's picture

Poor, poor Brian.

Wed, 08/10/2011 - 14:20 | 1547441 slaughterer
slaughterer's picture

For poor pathetic lying and stupidity, I liked Ken better. 

Wed, 08/10/2011 - 14:21 | 1547445 baby_BLYTHE
baby_BLYTHE's picture

someone better get a mat outside BofA. Don't want a bloody mess when he jumps out his window

Wed, 08/10/2011 - 14:30 | 1547485 kito
kito's picture

@blythe--have a heart, use commerical grade carpeting. it has a little more cushion to it, and it cleans up nicely.

Wed, 08/10/2011 - 14:48 | 1547562 Pladizow
Pladizow's picture

Call in the Zips with the Industrial plastic, Hack Saws, Rubber Knee high Boots and Aprons!

Wed, 08/10/2011 - 15:22 | 1547683 BurningFuld
BurningFuld's picture

Put a dumpster there. It will give new meaning to the term dumpster diving.

Wed, 08/10/2011 - 16:44 | 1548264 11b40
Wed, 08/10/2011 - 14:20 | 1547446 shushup
shushup's picture

Glad to see a Bankster get financially ruined instead of just the people.

Wed, 08/10/2011 - 14:41 | 1547541 BeetJuice
BeetJuice's picture

Don't worry. They can always fly to Dubai and enjoy the Filipino hookers. We're actually stuck in this godforsaken country.

Wed, 08/10/2011 - 15:28 | 1547710 New_Meat
New_Meat's picture


Wed, 08/10/2011 - 14:21 | 1547450 ZeroPower
ZeroPower's picture

Lol someone just asked your question re reps+ warrants Tyler.

Wed, 08/10/2011 - 14:21 | 1547451 Long-John-Silver
Long-John-Silver's picture

His future is out a window.


South Korean stock broker jumps to death off building after heavy financial losses, police say Read more:
Wed, 08/10/2011 - 14:35 | 1547512 Lord Welligton
Lord Welligton's picture

No suicide note was found. The fatal leap took place in the southeastern city of Daegu.

Maybe his "clients" were none to pleased.

Wed, 08/10/2011 - 15:00 | 1547606 Id fight Gandhi
Id fight Gandhi's picture

They say buy when there's blood in the streets

Wed, 08/10/2011 - 14:22 | 1547452 Jena
Jena's picture

Even janitorial employees learned not to have their whole 401K in the company stock after Enron, didn't they?

Wed, 08/10/2011 - 14:22 | 1547453 Internet Tough Guy
Internet Tough Guy's picture

He should have put it all in FOSL, like Momofade did. LOL...

Wed, 08/10/2011 - 14:22 | 1547455 Cognitive Dissonance
Cognitive Dissonance's picture

Moynihan Says His Entire Net Worth Is In BAC Stock

This is actually encouraging. They say that if you want to get back at rich people you try to make them poor. This guy is making himself poor.

Now that's karma.

Wed, 08/10/2011 - 14:27 | 1547472 malikai
malikai's picture

Gives new light to the phrase 'giving back to the community'. I do appreciate it.

Wed, 08/10/2011 - 15:09 | 1547640 MachoMan
MachoMan's picture

just sharks feeding on a whale.

Wed, 08/10/2011 - 14:47 | 1547561 Silver Dreamer
Silver Dreamer's picture

Maybe he'll replace Little Timmy.

Wed, 08/10/2011 - 14:23 | 1547458 shushup
shushup's picture

He's still got almost 4 million - not exactly ruined like he helped do to so many others.

Wed, 08/10/2011 - 14:59 | 1547602 Boston
Boston's picture

Just wait a few months....

Wed, 08/10/2011 - 15:02 | 1547612 Traianus Augustus
Traianus Augustus's picture

or days....

Wed, 08/10/2011 - 14:24 | 1547460 Ancona
Ancona's picture

Thanks Tyler, I really did need a good laugh today. Im going to go in the other room and smoke some hopium, maybe that will make this headache go away.

Wed, 08/10/2011 - 14:26 | 1547468 A Lunatic
A Lunatic's picture

Aren't they too big to fail?

Wed, 08/10/2011 - 14:27 | 1547474 monopoly
monopoly's picture

What kind of a CEO puts his entire net worth in any one company or stock. That alone tells me he should be fired.

Wed, 08/10/2011 - 14:28 | 1547477 Worker Bee
Worker Bee's picture

Sounds like a good reason to sell to me

Wed, 08/10/2011 - 14:29 | 1547480 drswhaley
drswhaley's picture

So, this tells me he is underwater on his mortgage(s) as well.

Wed, 08/10/2011 - 14:30 | 1547489 Spitzer
Spitzer's picture

Thats says 3 million ?

Giether is only worth like 2.5 million.

Wed, 08/10/2011 - 16:42 | 1548232 Hephasteus
Hephasteus's picture

But that's marked to market when the market stole your sharpie and your crazy pills.

Wed, 08/10/2011 - 14:32 | 1547492 americanspirit
americanspirit's picture

Does anyone actually believe that his entire net worth is in BOA stock? You have to wonder at the strategy (??) behind such a statement. Kinda like Bernanke announcing that his entire net worth is in UST's. Keep your eye on this hand folks - just ignore the other.


Wed, 08/10/2011 - 14:32 | 1547493 Id fight Gandhi
Id fight Gandhi's picture

Is he on food stamps too?

Wed, 08/10/2011 - 14:32 | 1547494 Astute Investor
Astute Investor's picture

I wouldn't give a lot of credibility to a guy who says the "fundamentals" today are better than during the credit crisis.

Wed, 08/10/2011 - 14:32 | 1547496 Dr. Engali
Dr. Engali's picture

He just told everybody out there to hit his book. I'm glad I own puts.

Wed, 08/10/2011 - 14:34 | 1547506 williambanzai7
williambanzai7's picture


Wed, 08/10/2011 - 14:43 | 1547551 TruthInSunshine
TruthInSunshine's picture



william, can you do a HAL 9000 in the algo fractal gone wild article on this page?

I wan't to see HAL 9000 get all independent and refuse to do any more PPT interventions, WB7 style.

Wed, 08/10/2011 - 14:35 | 1547507 j0nx
j0nx's picture

Either he lies or he is telegraphing the fact that BAC is getting bailed out by the taxpayers. Again.

Wed, 08/10/2011 - 14:35 | 1547511 TruthInSunshine
TruthInSunshine's picture

14:35/2:35 est -

Equities markets are about to literally implode. Short this bitch hard and repeatedly, homefries.

Wed, 08/10/2011 - 14:37 | 1547519 Irish66
Irish66's picture

Is it going that bad?

Wed, 08/10/2011 - 14:38 | 1547520 BeetJuice
BeetJuice's picture

It's not a loss until he sells.

Wed, 08/10/2011 - 14:39 | 1547525 Sudden Debt
Sudden Debt's picture



at 40 cents....


Wed, 08/10/2011 - 14:49 | 1547575 Pladizow
Pladizow's picture

Think again!

Wed, 08/10/2011 - 15:12 | 1547650 NotApplicable
NotApplicable's picture

4 cents?

Wed, 08/10/2011 - 14:53 | 1547584 Drag Racer
Drag Racer's picture

2 bits, max

Thu, 08/11/2011 - 02:00 | 1549937 John_Coltrane
John_Coltrane's picture

But on the positive the yield is going up and should hit infinity as it approaches zero.  But then the time to receive the dividend may also go to infinity!

Wed, 08/10/2011 - 14:40 | 1547538 dwdollar
dwdollar's picture

He's all-in bitchez!!!

Wed, 08/10/2011 - 14:41 | 1547539 BDig
BDig's picture

I wonder if BAC knows QE is coming and they were responsible for the big direct bid.

Wed, 08/10/2011 - 14:41 | 1547542 Irish66
Irish66's picture

Was at 7.10 low 7.04 waiting for elevator

Wed, 08/10/2011 - 14:44 | 1547550 bob_dabolina
bob_dabolina's picture

1:1 BAC/ES correlation

Wed, 08/10/2011 - 14:44 | 1547553 Seasmoke
Seasmoke's picture

so he isnt paying his Mortgage either ?

Wed, 08/10/2011 - 14:45 | 1547559 alien-IQ
alien-IQ's picture

And are we supposed to feel bad for him? because my initial reaction is laughter.

Wed, 08/10/2011 - 14:48 | 1547568 Seasmoke
Seasmoke's picture

cant think of a better reason to watch BAC go to ZERO

Wed, 08/10/2011 - 14:48 | 1547569 Dick Darlington
Dick Darlington's picture

I hope he holds on until zero. He has deserved it.

Wed, 08/10/2011 - 14:51 | 1547576 TruthInSunshine
TruthInSunshine's picture

Brian will mark his position up so high, the accountants will need intraveneous heroin drips.

Hey, just like with those delinquent/foreclosed properties they, the other banks and the GSEs are holding.

Mark to unicorns and pixie dust!

Wed, 08/10/2011 - 14:52 | 1547579 JW n FL
JW n FL's picture

His entire net worth in...


His Name (Personally).


Does NOT! Include!!


His Irravocable Trusts!

on shore!


off shore!






and / or any other way he has hid is Physical Gold in the Back Yard under a rock! LOL!!

Wed, 08/10/2011 - 15:28 | 1547590 Trifecta Man
Trifecta Man's picture

You mean he knows inside information, and he still got it wrong?

Wed, 08/10/2011 - 14:55 | 1547592 Dreadker
Dreadker's picture

My entire net worth is at home... in a safe... bolted to the sub-floor... surrounded by robots with lasers and rabid monkeys....


One part of that statement may be an embellishment ;-)

Wed, 08/10/2011 - 15:00 | 1547600 Rodent Freikorps
Rodent Freikorps's picture

Mine is in six different locations including two out of state.

If you disperse, you don't have to die in defense of any one cache.

At the very least, have one easy to find stash, so the locals will just take that and move on.

Wed, 08/10/2011 - 15:02 | 1547613 Dreadker
Dreadker's picture

That would be true... but the embellishment was my net worth... the robots with lasers and rabid monkeys are real... ;-)

Wed, 08/10/2011 - 15:05 | 1547627 Rodent Freikorps
Rodent Freikorps's picture

You couldn't afford the sharks with laser beams option?

Wed, 08/10/2011 - 15:11 | 1547644 Silver Dreamer
Silver Dreamer's picture

If it were my defenses, I wouldn't mention all of the layers either.  That's part of the moat layer.  Sheesh, come on!  ;-)

Wed, 08/10/2011 - 15:16 | 1547663 Rodent Freikorps
Rodent Freikorps's picture

I live near only fresh water. No one will ever expect mutant catfish with laser beams.


Wed, 08/10/2011 - 15:31 | 1547732 New_Meat
New_Meat's picture

What defenses?

Wed, 08/10/2011 - 15:01 | 1547608 Cone of Uncertainty
Cone of Uncertainty's picture

I feel smarter knowing there is someone that stupid out there in the world.

Wed, 08/10/2011 - 15:04 | 1547624 caerus
caerus's picture


Wed, 08/10/2011 - 15:07 | 1547631 Max Cynical
Max Cynical's picture

Wow...he must have an MBA.

Wed, 08/10/2011 - 15:07 | 1547633 I am a Man I am...
I am a Man I am Forty's picture

shit, it's not like he had to pay for it, the hardest part of his job are these conference calls, and most of his net worth is NOT in bac stock, he's not that dumb


Wed, 08/10/2011 - 20:52 | 1549351 Bananamerican
Bananamerican's picture

but he is that "scum"

Wed, 08/10/2011 - 15:12 | 1547642 Silver Dreamer
Silver Dreamer's picture

At least when the federal government takes it over they won't even have to change the name.

Entirely off subject, has anyone else lost their post list under My Account?  Apparently, I missed a memo...

Wed, 08/10/2011 - 15:14 | 1547649 bob_dabolina
bob_dabolina's picture

Is Hank Paulson having PTSD flashbacks or does he have a raging boner? 

Pop quiz, hotshot. There's a bomb on a bus. Once the market goes -400, the bomb is armed. If it drops below -400, it blows up. What do you do? What do you do? 

Wed, 08/10/2011 - 15:14 | 1547657 bbq on whitehou...
bbq on whitehouse lawn's picture

That was funny. And now i feel bad.. or would if it was a working stiff and not a ruthless, savage playing lord of the flies.


Wed, 08/10/2011 - 15:17 | 1547665 DCFusor
DCFusor's picture

Ah, couldn't happen to a nicer guy.  Except Ken Lewis - now that's Satan incarnate.

Wed, 08/10/2011 - 15:19 | 1547669 ZippyDooDah
ZippyDooDah's picture

BAC stands for Brian Ass Crack!

Wed, 08/10/2011 - 15:20 | 1547671 Cone of Uncertainty
Cone of Uncertainty's picture

Guys, Brian just called me, he wanted to set the record straight and he told me that he doesn't have all his networth in BAC and that he misremembered that he already spent his wealth on butt plug gifts to Barney Frank as well as midget tossing nights out with Ben, Hank, and Buffett.

Wed, 08/10/2011 - 15:27 | 1547707 buzzsaw99
buzzsaw99's picture

no houses, cars, yachts, only $4M in BAC stock? The other bankers are laughing behind his back.

Wed, 08/10/2011 - 15:28 | 1547715 Atlantis Consigliore
Atlantis Consigliore's picture

Can he get a no doc Ninja loan and sell it to fraudy mac or mae I?


He can say under CRA  he wants it and needs it and its his right?


What hes in foreclosure too?  


Well tell him to HAMP it to a BAC office and refi......





Wed, 08/10/2011 - 15:34 | 1547741 iLoveMisesToPieces
iLoveMisesToPieces's picture

The most hilarious part is that I believe him.  This dude is so out to lunch.  Is BAC just the spot for everyone else to unload their fiat?

Wed, 08/10/2011 - 15:36 | 1547747 AlaricBalth
AlaricBalth's picture

What Mr. Moynihan did not say was that since early 2010 he has been a net seller of BAC stock. After the FleetBoston merger he had over 700,000 shares of BAC. The conversion rate was .5553 BAC shares ton each Fleet share. His holding prior to the merger was well over 1.4 million shares. SEC form 4 filings tell the story.

Wed, 08/10/2011 - 15:40 | 1547764 AlaricBalth
AlaricBalth's picture

What Mr. Moynihan did not say was that since early 2010 he has been a net seller of BAC stock. After the FleetBoston merger he had over 700,000 shares of BAC. The conversion rate was .5553 BAC shares ton each Fleet share. His holding prior to the merger was well over 1.4 million shares. SEC form 4 filings tell the story.

Wed, 08/10/2011 - 15:42 | 1547771 Scarecrow
Scarecrow's picture

Entire net worth in one stock (BAC)... And we're supposed to trust this guy to manage BAC's risk? 

Wed, 08/10/2011 - 15:44 | 1547780 Eric Cartman
Eric Cartman's picture

That last chart is kinda deceiving... he might have a larger percentage of his total networth in BAC than other bank CEOs. But because the stock price for BAC is only $7 his total net worth in millions is probably going to be a lot less than say Floyds. Also, if Citi bank didn't do a reverse stock split Pandit would probably be the one at the bottom of this list. 

Wed, 08/10/2011 - 20:31 | 1549261 Tater Salad
Tater Salad's picture


With no due respect, you are a dip shit.  Stock splits do not affect absolute value, only number of shares.

Young Grasshopper, chew your words before you speak.

Wed, 08/10/2011 - 15:46 | 1547794 joak
joak's picture

The last of the Moynihans...

Wed, 08/10/2011 - 15:55 | 1547832 firefighter302
firefighter302's picture


Wed, 08/10/2011 - 16:21 | 1548043 caerus
caerus's picture

you see...what we do here is put the word "fortress" in front of "balance sheet" and voila!

Wed, 08/10/2011 - 17:29 | 1548530 Bay Area Guy
Bay Area Guy's picture

He must have a mortgage from his own bank.....and it's underwater.

Wed, 08/10/2011 - 19:18 | 1548996 MiningJunkie
MiningJunkie's picture

Too bad Brian doesn't have his wife's art collection to sell like Dickie Fuld did....

Wed, 08/10/2011 - 20:29 | 1549249 Tater Salad
Tater Salad's picture

Tyler(s), call your phisician...

you've obviously had an erection for longer than 4 hours for BAC, wondering if they at some point if you were an employee?  Just wondering...

Wed, 08/10/2011 - 20:41 | 1549302 bill1102inf
bill1102inf's picture


Wed, 08/10/2011 - 20:52 | 1549356 WebWeasel
WebWeasel's picture

Yea, what he said. Minus the stroke please.

Wed, 08/10/2011 - 21:24 | 1549463 PulauHantu29
PulauHantu29's picture

I never owner any BAC, but I did stay at a Holiday Inn last night.

Wed, 08/10/2011 - 21:24 | 1549469 PulauHantu29
PulauHantu29's picture

I never owned any BAC, but I did stay at a Holiday Inn last night.

Thu, 08/11/2011 - 01:09 | 1549899 FlyPaper
FlyPaper's picture

Just the captain going down with the ship, that's all.  Supposed to boost confidence in a bankrupt bank.


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