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Today, Buffett invested $5B in Bank of America. This is a very profitable deal for Buffett and Berkshire Hathaway; and a stock market survival deal for BAC & the stocks in the financial sector; the people who have to watch out are the Main Street Investors who should take profits when they can. Remember BAC bought a lot of toxic assets/companies in the 2008 financial crisis so if you were not on the phone making the deal – buyers beware. It is true that Buffett’s investment today puts the Financial Sector Bears on notice and some will have to run and cover, but is $5B in BAC enough? It is also important before buying BAC to analyze Buffett’s past angel investments in GE and Goldman Sachs.

On a lighter note, Buffett said he came up with the idea while taking a shower yesterday, now yesterday I was getting ready for work when Jim Cramer and his co-hosts on CNBC came up with the idea and suggested the angel investor and Melissa Lee mentioned Buffett… I found today news interesting.

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