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[BullNBear52]

He bottom fishes same as I do. He just has more money to do it with. I bought C at a buck back then. He lent BAC $5B and got a sweetheart deal out of it.

Warren Buffett just made a quick $12 billion on a clever Bank of America investment
Warren Buffett's Berkshire Hathaway will exercise warrants in Bank of America allowing it to acquire 700 million common shares at an exercise price of $7.14 each, or about $5 billion.
At Thursday's closing price, that stake is worth more than $17 billion.
Berkshire will also become the bank's largest shareholder.
John Melloy | Liz Moyer
Published 7:41 AM ET Fri, 30 June 2017 Updated 11:34 AM ET Fri, 30 June 2017

Because of an astute investment made in Bank of America six years ago while the bank was struggling, Warren Buffett is about to make a quick $12 billion and become the financial institution's largest shareholder.

Buffett's Berkshire Hathaway said Friday it will exercise warrants in Bank of America that will allow it to acquire 700 million common shares in the bank at an exercise price of just $7.14 each, or about $5 billion.

Bank of America shares closed Thursday at $24.32 a share, making that stake actually worth more than $17 billion. So it's a quick $12 billion paper profit for the Oracle of Omaha.

https://www.cnbc.com/2017/06/30/warren-buffett-just-made-a-quick-12-billion-on-bank-of-america.html