The talking heads on CNBC are once again, doing a tremendous disservice to the investors who still watch CNBC. Charlie Gasparino's nonsensical rant yesterday on how John Paulson had taken a multi-billion dollar position in shares of Bank of America should have been qualified to say that those shares were purchased in the second quarter of 2009, which ended at the end of June.
This was old news and yet by his reporting antics made it appear that Paulson had just taken the position. Who cares if the shares jumped up 5%?
I do, that was probably Paulson selling to the masses yesterday and booking massive profits. Good for you John. Nothng like adding to the $17 billion you made last year for your investors.
1 comment:
hey moron i said during the hit that he bought the shares earlier and it takes awhile before it shows up in the filing
cg
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