Talk about timing the market, billionaire John Paulson sold his entire stakes in Bank of America Corp. and Citigroup Inc. in the fourth quarter before the bank’s shares rallied.
Paulson & Co. sold 25.1 million shares of Citigroup valued at $643 million as of Dec. 31, according to a filing today with the U.S. Securities and Exchange Commission. The hedge fund sold about 64.3 million shares of Bank of America worth $394 million…
Wait,wait...there's more at http://www.bloomberg.com/news/2012-02-14/paulson-sold-his-stakes-in-citigroup-bank-of-america-ahead-of-share-rally.html
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