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Old 25.08.2011, 15:20
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Buffet: I want to invest $5BN please [Bank of America]

Well that's one way to invest...

Anyone else fancy jumping on the band waggon? Or Elephant Hunting as the man himself puts it...

Source: here

Berkshire Hathaway to Invest $5 Billion in Bank of America

CHARLOTTE, N.C., Aug 25, 2011 (BUSINESS WIRE) --
Bank of America Corporation announced today that it reached an agreement to sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway, Inc. in a private offering. The preferred stock has a dividend of 6 percent per annum, payable in equal quarterly installments, and is redeemable by the company at any time at a 5 percent premium.

Last edited by The_Love_Doctor; 25.08.2011 at 15:26. Reason: added news link
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Old 25.08.2011, 16:16
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Re: Buffet: I want to invest $5BN please [Bank of America]

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The preferred stock has a dividend of 6 percent per annum, payable in equal quarterly installments, and is redeemable by the company at any time at a 5 percent premium.
So how much is that in chuffs and is it enough for him to live in Switzerland?
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Old 25.08.2011, 16:33
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BOA was the company that Buffet said if he had to pick 1 co to invest 100% of his money {as a smaller investor) he would choose BOA. This was 3 years ago at a far lower price than today . His 6% yield seems modest Goldman Sachs paid 10% 3 years ago.
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