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kmx_swing

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Tuesday, 05/18/2010 7:43:53 AM

Tuesday, May 18, 2010 7:43:53 AM

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Time to invest into Banks......

Paulson ups BofA stake
Bloomberg
Last Updated: 2:15 AM, May 18, 2010
Posted: 1:02 AM, May 18, 2010

John Paulson, the hedge-fund manager who amassed a fortune by betting against US mortgage markets, increased his stake in Bank of America Corp. in the first quarter.

His hedge fund, New York-based Paulson & Co., bought 16.8 million shares of the Charlotte, North Carolina-based bank and held 167.8 million shares as of March 31, according to a filing with the US Securities and Exchange Commission yesterday.

BofA stock closed at $16.35 yesterday.

Read more: http://www.nypost.com/p/news/business/paulson_ups_bofa_stake_DrT8oLhg62NLBQMxmb8mbM#ixzz0oHSOShVA
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