Dear Warren Buffett,
Why didn’t I follow you into that Bank of America trade? Why oh why?????
It was a layup, I know. So EASY. YOU GAVE YOUR SEAL OF APPROVAL!!! But I was afraid.
It was just that, the banks were so hated back then. You remember Occupy Wall Street, right? And Europe was falling apart. Did you see the people on the streets of Greece. Damn. Plus, there was all the political trouble here in the USA, the sequester and looming fear of a government shutdown. And the lawsuits against the banks that kept coming and coming and coming. Excuses, excuses, excuses…THAT WAS THE TIME TO BUY. Blood in the streets and all.
But, you, Mr. Warren Buffet, stepped in and said it was fine to buy shares of Bank of America when it was trading at around $6 bucks a share. You gave it the ALL CLEAR. Now look at it. It’s soared past $16 and it looks like it wants $17. Well, that’s what all the traders on Wall Street say.
And Warren, I bet you’re not even selling Bank of America up here at $16-$17. I think you might just wait until stock hits $30 or $40 or $50 a share in the next five or ten years, or sooner, that’s just how you play the stock market game. You might ride Bank of America higher while it gives you a nice dividend – since they’ll have to give decent dividend soon, right? I wish I could play the stock market game with such patience and smarts and wisdom, as you do. I swear, next time I’ll follow your moves and hold on to the stock and won’t sell so early. I swear I won’t. I’m going to do it next time. I will. I promise. I hope. But in truth, I just don’t have your patience…I’ll try to learn though. I will.
Here’s the 5 year chart for Bank of America. You’d think, what with the epic housing collapse behind us, the stock will only continue to rise in the coming years: