As this stock death spirals you can at least know that you are sinking with good company
Don't be silly.This is Exactly why Mr. B. bought preferred shares, at a guaranteed rate of interest, instead of common stock.And those warrants he was issued at $7.14, for up to 10 years from now? Did anyone look under the hood, to see if even the current BAC goes BK; how will those warrents be treated? Again, not the same as common stock sucker shareholders. There is one interesting aspect of BAC, however.Back when all the other big banks were cratering, it was still holding up, at like $39 per share or so. And I said to someone I knew: "Why is BAC still 2x higher stock price than any of the other biggies?They said, (as Retail would), "It must be because they are so much better than the others!"Nope. Lower tides sink ALL ships. Same as the rising tide does raise all.It was a carefully planned event; Ken retired, and grew tomatoes.Mr. M. is now in charge, and the ship has listed to the starboard side; lookin' to capsize in the oncomin' hurricane. I see so many empty housing units in my hood, here in CA. And BAC owns at least 25% of them.That ain't good for the balance sheet.
Wonder how long Buffett's support for Obummer will last.