In 2021, Warren Buffett Will Be Praised

When Warren Buffett wrote a check for $5 billion from the treasury of Berkshire Hathaway and sent it to Charlotte so that Bank of America could beef up the amount of capital on its balance sheet, he negotiated the right to create a special warrant class so that he could purchase 700,000,000 shares of Bank of America at a price of $7.14 at any time he desires before September 2021. Obviously, it is an intelligent practice to wait until the last moment to purchase the shares—why assume the risk of a devastating financial crisis in August 2021 if you can avoid it?—so the degree of success for Buffett will be measured based on … Read the rest of this article!