Jim Cramer Still Owns Bank of America For His Charitable Trust

Oct 10, 2011
J. Webster
Comments Off on Jim Cramer Still Owns Bank of America For His Charitable Trust

Well, I guess you have to give Cramer some credit, he’s willing to suffer and endure pain, as he’s still holding on to Bank of America’s stock even though it’s down to the $6 level and the most hated bank stock in the entire stock market. Actually, it’s perhaps the most hated company/stock in the world. Cramer has said buying of Bank of America’s stock is one of his worst investing decisions he’s made in his entire career.

However, when the stock drops nearly 50% in just three months, going from $10 a share to a 52 week low of $5.13 a share, it’s hard to bail out when the ship is going down and you think, “we can’t sink, we can’t”. So now, with the stock trading so low, Cramer is staying aboard the ship and hoping it finds land very soon. He’s saying essentially it just can’t go any lower than it is now. Time will tell. Warren Buffett is in the stock too now you know, of course he’s getting a nice dividend payment to go along with it, but that just might have put a bottom in Bank of America’s stock.

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