A diary of the thought process behind my investment decisions
Dumb Things Companies Do
News is out that Bank of America might cut its nearly $10 billion stake in Blackrock, to which I say its about time. In the Summer of 2009, Bank of America did a roughly $10 billion secondary, selling their own shares for a little over $10. Back then shares of Blackrock were trading higher yet they chose to hold onto that stake and sell their own shares.