Warren Buffet Buys BoA $5 billion investment
Discussion
davepoth said:
Welshbeef said:
But it's not his money to lose it is the funds
I think this is actually out of his personal stash; and CNN are reporting a one day $357,000,000 gain...Rocksteadyeddie said:
The reason Buffett gets such good terms can be seen in the stock price of BofA and every other bank around the world yesterday. Buffett does things for Buffett. He was asked to buy into numerous financial institutions in 2008. He refused them all, with the exception of Goldmans. The deal he gets is basically the bank paying for the use of his name. He probably has more positive effect by investing in a company than any other corporate or individual in the world. Is it political? I doubt it. He's a money man through and through. He just doesn't do politics. The Snowball is a fascinating read.
PS Also bear in mind he is along time shareholder in Wells Fargo.
I may not know much about the financial side of Warren Buffet, but Politics I do know.PS Also bear in mind he is along time shareholder in Wells Fargo.
Buffett has for the past few years been very involved with the Democrats, ironic due to his family history that someone can be polar opposite. He is a regular donor and does a lot of fundraising as well as acting as an economic advisor. This goes back to the Clinton administration.
smifffymoto said:
Everything he does his for his own financial gain so I wouldn't trust him one bit.
Well yeah.. He's an investment banker. He'd be a pretty st one if that wasn't his number 1 concern. That said, he lives in a modest house and has pledged to give away 99% of his fortune to charity.
In my eyes he's a top bloke who's just trying to make as much money as possible so he can give away as much money as possible.
Off topic, I know.
okgo said:
Welshbeef said:
When you say modest home we are still talking about a £10+ million pad so not quite slimming it is he.
Its not a ten million pound house surely?It was st!
The guy is absolutely obsessive about reinvesting any money he has made. He simply doesn't spend it. It all goes back in BH stock.
Rocksteadyeddie said:
He paid IIRC $300,000. It's really quite modest. The taxable value in 2005 was $690,000 so it's certainly not worth anything like $10 mio
The guy is absolutely obsessive about reinvesting any money he has made. He simply doesn't spend it. It all goes back in BH stock.
Why can we not buy a pad like that in the uk for anywhere close to $690k that's incredible a stunning propertyThe guy is absolutely obsessive about reinvesting any money he has made. He simply doesn't spend it. It all goes back in BH stock.
Welshbeef said:
Rocksteadyeddie said:
Why can we not buy a pad like that in the uk for anywhere close to $690k that's incredible a stunning propertydavepoth said:
Beardy10 said:
The gain on the warrants are far in excess of that....10 yr at the money warrants on $5bil worth of a hugely volatile stock......worth way more than that.
That's a One Day gain...For example, the news of WB selling out of a holding will drive it down far more that it would ever go up on the news of him buying in. As such, such volume would be a brokered sale, off exchange, at a hefty discount, to he is actually almost certainly still sitting on a loss if it were to be converted to stock and sold.
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