Berkshire’s BofA Warrants, Disney Bids Adieu to Bruckheimer, and 3 More Hot Stocks
Berkshire Hathaway (NYSE:BRKA): ”Basically we love the position of being an owner,” said Warren Buffett, referring to the 10-year warrants Berkshire received when it purchased a $5 billion preferred stake in Bank of America (NYSE:BAC) in 2011. The warrants are valued at $7.14 each; Berkshire can purchase up to 700 million shares at that price. BofA’s closing price on Thursday was $14.61. However, Buffett expects to hold the warrants until near expiration and then convert them to common stock, Seeking Alpha explains.