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Monday, November 14, 2011

BAC sells almost their whole stake in CCB

Bank of America has sold almost their whole stake in China Construction Bank. They currently hold only 1% of CCB, which is actually 1% more than they should but it's much better than owning 9%.

The selling of CCB de-risks, one of the most risky portions of capital that Bank of America had disclosed. There might be more assets like CCB that I believe could be over valued, but at the moment, I don't know of any.

I still own an amazing about of BAC.A warrants, but I think it would be more reasonable for me to buy 2013/2014 leaps on BAC.

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