Shares of Bank of America are up 4 percent today, and the stock is now at $9.20. This brings to mind the fact that Warren Buffett is on his way towards making another killer investment. Last August he sunk $5 billion into the bank while it looked like it was in another spiral, and the stock was just above $7.
Now bear in mind, he didn't just buy common stock. He bought preferred stock paying 6 percent returns and the right to buy a whopping 700 million shares at $7.14.
So suffice to say, this is another home run….
Read more: http://www.businessinsider.com/warren-buffett-up-big-on-bank-of-america-2012-3
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