Don’t bank on it. Cashed in C and BAC

Posted on Oct 14, 2010 by in Letters

http://stockcharts.com/h-sc/ui?s=C&p=D&yr=0&mn=6&dy=0&id=p84818044993&a=203282124

We have long thought that in the long run banks will be good investments.  We still think that way.  It's the short run we're worried about.  We are willing to pay more for C and BAC later in order to avoid the risk and annoyance and stranded capital now.  We have had small positions in C and BAC.  We're selling them.

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