Fairholme's Capital Bruce Berkowitz just made around $128.5 million since yesterday's close in his stake with Bank of America, assuming he owns at least as many shares in the firm as he did on June 30th.
This morning Berkshire Hathaway's Warren Buffett announced he would purchase 50,000 preferred shares for $5 billion. The news pushed the stock price nearly 20% higher.
And Berkowitz, who believed in BofA so much that he hosted a conference call for Moynihan to convince critics they were wrong, cashed in...
Find out more at http://www.businessinsider.com/berkowitz-just-made-at-least-1285-million-on-bank-of-america-in-one-hour-2011-8
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