Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Times New Roman","serif"; mso-ascii-font-family:"Times New Roman"; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:"Times New Roman"; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} Warren The-Rich-Should-Pay-More-Taxes Buffett, stock picking genius behind Berkshire Hathaway, announced his company is pouring, uh, investing, over $5 billion in struggling Bank of America. Claiming he spoke to the president of BofA the day before he announced his plan, Buffet said "Bank of America would sell it 50,000 preferred shares at $100,000 a piece. The preferred stock has a dividend of 6 percent and is redeemable at a 5 percent premium." Six percent; compared to Treasuries a very nice yield. After the news broke BofA's stock shot up 24%; Bob Pisani of CNBC News estimated Buffet made a paper profit of over $800 million in 19 minutes. And of course, practicing what he preaches, Buffet immediately whipped off a check....
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