The Rich just keep getting Richer

Warren Buffet's company has recently bought about 50 million shares of Bank of America stocks. This has made this stock almost 15% of Berkshire Hathaway's portfolio. US regulations have placed a cap 10% vestment a company can have of another companies stock, especially a major bank, so the vested company can't take control. Buffet had made a deal with regulators to be able to buy vestment above the 10% cap as long as it wasn't to be a controlling entity in a companies operations.

His buying of 50 million shares of Bank of America just before the approval of Heals Act is undoubtedly to make an obscene profit off the government action as aid for the financial grief people are having in the USA. This is very unethical.

When it comes to hundreds of millions in profit it doesn't matter to this greedy piece of excrement.

a reply to: eManym

Berkshire Hathaway has millions of small investors in it not mega millionaires. Many regular folks will benefit from money they make...me included. You could buy shares yourself and profit. Literally nothing is stopping you if you think they are about to make a large profit.

How many BoA customers with accounts with them will receive the stimulus check and keep it in the bank? I’d do the same if I had his money.

a reply to: Metallicus
It doesn't make the current actions by the company an ethical one. With Buffet's net worth around $81 billion, his actions with BAC are the wrong way to bring assets to his company and further his own assets.

What is your take on this besides inferring that ethics are good unless I comes to financial gain?

a reply to: 38181
Probably not many. $1200 is a bare pittance when bill time rolls around. As far as having the wealth he has, I wouldn't.

a reply to: Metallicus

The BH B stock is at about 193 per share. Barrons has a target price of 220. Do you believe that’s realistic in the current economic climate? Curious. Trying to decide whether to buy some shares. I like differential diagnoses. Thx.

originally posted by: azvol
a reply to: Metallicus

The BH B stock is at about 193 per share. Barrons has a target price of 220. Do you believe that’s realistic in the current economic climate? Curious. Trying to decide whether to buy some shares. I like differential diagnoses. Thx.

I think there is too much risk in the current market in general. I am holding my shares, but I think it wouldn’t take much to tank the entire market.

a reply to: Metallicus

I've bought stock in two companies in my life , and both tanked. Neither company really exists anymore.
Perhaps I have a superpower- who wants to pay me to buy stock?

a reply to: eManym

I don't think you understand what the term unethical actually means.
There is absolutely nothing unethical about making a profit that
harms no one.

In my understanding it would be unethical to shame people who
seek to increase their profits. Usually such people don't own a
business or understand economics.

In my formative years as a youth, the egalitarians misinformation
concerning the free market led me to embrace capitalism. They
wish to keep people financially illiterate and impoverished.

How is it that immigrants can come to America, and do better
economically than many of the people born here? Because
too many have been fed the lie that making as much money
as possible is "unethical".

Poverty is an attitude and state of mind.

Someone should tell my boss that. He is having to invest into his product since the economy is down. In essence, he is keeping us all working on his own dime. People aren’t buying because of this COVID crap. Good employers do that if they are able. Piss poor economy because of this 99% recovery rate though....

a reply to: eManym

Priceless really!

Accept the cost, well that's on the average punter's dome, and not on "there" nuts.

Sorry but under trump, the American people got richer not the elite 1%


🤪🤪. Jk

a reply to: MrBlaq
I believe it is an attempt to buy the stock in order to take advantage of a price increases because of government policies to try to alleviate financial hardship for bad economic conditions. I wouldn't be surprised if he sells his stake soon after. I see that as unethical. If Buffet had made his stock purchases at any other time, then no big deal.

The last government stimulus, the CARES Act, caused a 25% increase in the markets after a decline of almost 40%. Major bank stock prices tend to mirror the general markets trend.

As far as immigrants getting wealthy, many were/are criminals that will stop at nothing for financial gain. Most immigrants don't do so well.

The old saying is true, takes money to make money (in most cases).

a reply to: panoz77

Aye but when your super rich.

It's generally other peoples monies they use to make more money for themselves.

In most cases.

a reply to: andy06shake

The OTHER PEOPLE make money too

About 25% in the last 2 months.

a reply to: mikell

Aye it's all a big bowl of cherries really.

And that big tidal wave on the horizon is not a recession the likes of which both our respective nations have yet to witness.

Put it this way, if you don't have an ivory tower or trust fund, your apt to have a really bad day rather soon.

a reply to: andy06shake

I'm good, not worried about the future under our current President. But the next 4 months will be hell. Have Cash and other stuff. No bills Freezer and basement topped off a few dozen rounds and good neighbors

a reply to: mikell

Well you seem to be prepared for something.

Good luck to you.

I dont imagine it will come to hiding in the basement with a loaded weapon all the same.

As you probably know a cave is a grave and if it all really goes breasts up mobility is the superior tactic.

Living on an island only 700 odd miles long, in a city of over 2.5 million people, with a greater population of over 66.65 million people, i cant imagine where one would bug'out to over here.