Reading Time: < 1 minute Yahoo Tech-ticker Disclosure: I don’t have BAC shares. I think, long term (I mean really long like 5 years) BAC is a good call option for US economy recovery. I don’t agree with Henry Bloget on this aspect: I think Ken Lewis is the right man for the job.
Reading Time: 2 minutes (Update 23Apr09) It seems Obama administration is going to make credit card more consumer friendly (marketWatch). So are they going to socialize the credit card: I mean, you and me (i.e., honest guys) pay the credit cards on time each month, will bail out the deadbeats, after we bailed out the Wall Street ??? We
Reading Time: < 1 minute Also collected here. 1. Why invest in Utilities? Does not Utilities need a lot of capital, what’s the difference between Utilities and the original Berkshire (BRK.A, BRK.B) textile business? You did explained in your letter that utilities can deploy capital for a decent return. And I read this old article “Why Buffett is buying utilities”
Reading Time: < 1 minute I remember years ago (in dot com era) there is a book named Dow 36,000. Obviously that predication was a laughing stock becaue Dow crashed in year 2000. No I am not trying to make a fool of myself, my title Dow 5,000 is merely to reflect today the Dow and S&P dropped to 12
Reading Time: 2 minutes (Update Feb 5) It appears BoA CEO Ken Lewis bought additional 200,000 BAC shares yesterday (source: bloomberg). (Original Feb 4) Today Bank of America stock (NYSE: BAC) fell below $5 the first time since 1990s. The company was in trouble earlier this month as the loss from Merrill Lynch turned out to be much bigger
Reading Time: < 1 minute It seems the financial crisis has been more like a banking crisis these days, with the RBS virtually nationalized by the British goverment, and Citi and Bank of America increasingly can not stand on its own. The No. 1 and No. 2 US banks according to market cap, J.P.Morgan (NYSE: JPM) and Wells Fargo (NYSE:
Reading Time: 2 minutes Bank of America is back in the news because they asked and got $20 billon from US govement, to back the loss from Merrill Lynch acquisition. (Source: Yahoo Tech-ticker) Personally I like Bank of America, ever since I became their customer serveral years ago. Two benefits of being BoA checking acct cosumer: 1) Their branch
Reading Time: < 1 minute At least that’s what Fed chairman Bernenke and Treasury secretary Paulson think, and the congress and president agree with them. But how about the shareholders and we the tax payers? The AIG shareholders are almost wiped out (slightly better than Fannie and Freddie), and the price tag is $85 billion for now. So summary, the