Silicon Valley Living | dognmonkey.com

being well is being passionate and productive
Investing

Bank Of America and Warren Buffet

Mr. Buffet helps so many investors and mutual funds to get out BAC (Bank of America) at 47% higher than the 52 weeks low price of $6.01. Yes, Mr. Buffet doesn’t lose money often, but I think this is the one just to help his friends before BAC tanks totally. As I understand about stock market, new low will be retested, the $6.31 was retested and $6.01 was in place. Until then, BAC up today is just a stunt.

MK2: Obviously, B of A is in store for an incredible amount of additional losses. Based on my calculations, Bank of America is set to lose roughly $2 trillion in the near term. With just $222 billion in shareholders’ equity, and $2.3 trillion in total assets, this would absolutely wipe the bank out. Read full article.

 

Update: 10/3/2011 BAC = $5.53 . I don’t believe in shorting, but I think it’s time to do what I believe in. Never buy new lows and never fear new highs.

Paid Links

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.