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.
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now CEO of the Parisian Family Office. A White Earth Chippewa, Dean helped Native Americans for decades. Raised conservative, began Wall Street career in 1982, met game changer William O'Neil in 1984. In a world on a dopamine, hypomanic binge, this is his take on financial chicanery, political crime and life well lived at their Ghost Ranch in MT or Pamelot, the Parisian's TN farm.
Thursday, August 13, 2009
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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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