However, BAC was also "smart enough" to buy up at $18 back in August.
From a trading perspective, it looks like a hail-mary type, betting the house, type of trade.
Adding to a loser... a cardinal sin.
UPDATE: Full story from the NYTimes here.
Friday, January 11, 2008
Bank Of America Buys Countrywide Financial
I guess this is good news. It's an all-stock deal worth $4 billion.
However, BAC was also "smart enough" to buy up at $18 back in August.
From a trading perspective, it looks like a hail-mary type, betting the house, type of trade.
Adding to a loser... a cardinal sin.
UPDATE: Full story from the NYTimes here.
However, BAC was also "smart enough" to buy up at $18 back in August.
From a trading perspective, it looks like a hail-mary type, betting the house, type of trade.
Adding to a loser... a cardinal sin.
UPDATE: Full story from the NYTimes here.
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