1 Mo: -5.3% 3 Mo: -18.6% 1 Yr: -16.9%
This past month was another down month in the Financial Sector, coming in around -5.3%.
Perhaps one of the bigger news coming out of this sector is Warren Buffett’s investment of $5 billion into Bank of America, that caused the stock to gap up 20%.
Berkshire Hathaway got a great deal on the purchase, approximately 50,000 shares with a 6% annual yield. Bank of America also did well with the deal as their somewhat besmirched reputation will be slightly restored with a big name like Berkshire Hathaway investing in them.