Bank of America
Courtesy of Tim Knight’s Slope of Hope
There’s been a lot of excited chatter about legendary hedge fund manager Paulson buying up an enormous stake in B of A during Q2, making him one of their largest shareholders.
That’s awesome for Paulson and his investors, because the average price of B of A in Q2 was about $9. It’s currently about double that. So this has been a fantastic investment.
What’s a little perplexing, though, is why people would consider an investment made last quarter, at much better prices, to be a clear "Buy" signal for this stock. As I look as this chart, it doesn’t exactly look like a raging buy to me………..
