Moynihan Proves Buffett Right

By Matt Koppenheffer and David Hanson – Feb 27, 2013 at 3:34PM

NYSE: BAC

Bank of America

Market Cap

$297B

Today's Change

(2.06%) $0.76

Current Price

$37.73

Price as of April 22, 2024, 4:00 p.m. ET

Bank of America's CEO has got the right stuff after all.

In the following video, Motley Fool financial analysts Matt Koppenheffer and David Hanson discuss the $5B investment Warren Buffett made in Bank of America (BAC 2.06%) toward the end of 2011. At the time, many were scratching their heads at the move, with investors still very wary of banking stocks after the financial meltdown of 2008, but BAC stock has been on a powerful hot streak since then. The guys discuss how BAC's CEO Brian Moynihan has made the right moves to get this bank back on track, and why Warren Buffett's still got the magic touch.

David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Berkshire Hathaway and Bank of America. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Bank of America and Berkshire Hathaway. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.