Bank of America (BAC) was able to raise capital to help strengthen its liquidity. The bank giant was able to raise 13.47 billion in a relatively easy fashion. There was great demand for BOA shares as the company sold 1.25 billion shares without a hitch. I have to admit that this stock market rally has lasted a whole lot longer then I originally expected. I don’t know how much more steam this rally but it appears that momentum has been driving the market higher day after day. At some point I still expect a significant pullback. Investors will realize that all of these equity offerings will be dilutive to existing shareholders and toxic debt will impair company earnings for the near future.
Make Money Investing The Warren Buffett Way
