Did Buffet BAC Buy Mark a Bottom for Financials?

99 views · Published 30 August 2011 · 4:13 · Indexed 21 September 2026

Channel: T3 Live · 2011 · News & Politics

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Warren Buffet's decision to buy a $5 billion stake in Bank of America (BAC) boosted confidence in the sector, creating a short term bottom. Yesterday BAC announced it would sell half of its stake in China Construction Bank for $3 billion, another step in shoring up its capital base. Is it all uphill from here for the banks?

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