Today was a big news that Warren Buffet invested $billion in BOA. It raises many question as investor. Last week BOA announced it does not need to raise capital. With this investment it raises doubt over BOA. Mr. Buffet got a good deal. It is a risk he is taking. But looking at his investment 3 years back in Iris bank, it was a big mistake he admitted.
Here is a quote from @knowledgetoaction
[According to rte.ie, Mr Buffett lost more than $200 million (£140,790,000) on an investment in the banks as the roar of Ireland's Celtic Tiger was turned into more of a purr by the global recession.
In his annual letter to Berkshire Hathaway shareholders, Mr Buffett, who is widely recognised as the world's most successful investor, admitted he had made "already-recogniseable errors".
He commented: "At year end we wrote these holdings down to market: $27 million, for an 89 per cent loss. Since then, the two stocks have declined even further."]
http://knowledgetoaction.co.uk/news/19051516/buffett-admits-loss-after-bad-irish-bank-investments/
Currently AIB is trading at $0.69 and IRE at $ 1.23.
All I can say common investor always lose money by following others. So do your own research and invest smartly.
Here is a quote from @knowledgetoaction
[According to rte.ie, Mr Buffett lost more than $200 million (£140,790,000) on an investment in the banks as the roar of Ireland's Celtic Tiger was turned into more of a purr by the global recession.
In his annual letter to Berkshire Hathaway shareholders, Mr Buffett, who is widely recognised as the world's most successful investor, admitted he had made "already-recogniseable errors".
He commented: "At year end we wrote these holdings down to market: $27 million, for an 89 per cent loss. Since then, the two stocks have declined even further."]
http://knowledgetoaction.co.uk/news/19051516/buffett-admits-loss-after-bad-irish-bank-investments/
Currently AIB is trading at $0.69 and IRE at $ 1.23.
All I can say common investor always lose money by following others. So do your own research and invest smartly.
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