Whoops, that should be:
$154,000,000
------------------------- = 3.08%
$5,000.000,000
A 3.08% gain is not that big of a deal.
Regards,
LelandJ
On 02/11/2012 08:45 AM, lelandj wrote:
> Warren Buffett made a deal with BOA, whereby BOA issued him 5 billion
> dollars of 6% preferred stock. The deal was good for BOA, which allow
> BOA to increase its reserves to booster its firewall against new US
> regulations requiring big banks to increase their reserves, and against
> the possible contagious threat that the EU debt crisis and slow world
> economy might infect the US economy.
>
> Buffett's $5,000,000,000 of BOA's preferred stock carries options that
> allow Warren Buffett to covert it into BOA common stock at $8.00 or$8.50
> per share, (eg not sure about the exact conversion price, somewhere in
> this range). It was a very sweet deal for all parties involved, but
> especially for Warren Buffett.
>
> $154,000,000
> ------------------------- = 3.08% gain is that big of a deal. LOL
> $5,000.000,000
>
>
> Regards,
>
> LelandJ
>
>
> On 02/10/2012 10:34 PM, Nicholas Geti wrote:
>> Now we know why Buffet has been so happy with Obama.
>>
>> Warren Buffett's stake in Bank of America Corp. increased in value by $154
>> million after President Obama and the U.S. Justice Department announced a
>> $25 billion foreclosure abuse settlement with the five largest U.S. banks
>> Thursday, records show.
>>
>> http://freebeacon.com/warren-buffetts-net-worth-jumps-154m-thanks-to-mortgage-settlement/
>>
>>
>>
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