Warren Buffett plowed $2.1 billion into Bank of America in 12 days. Experts warn it could be years before he sees a return.

Getty Images / Bill Pugliano

• Warren Buffett bought $2.1 billion worth of Bank of America stock over 12 straight trading days.
• It could be years before the billionaire investor and Berkshire Hathaway chief sees a material return, experts said on Wednesday.
• "He could buy it for another 12 days, he can't really fix the headwinds that are challenging the banks," CNBC contributor Joe Terranova said on "Halftime Report."
• However, Wells Fargo analyst Mike Mayo said on CNBC's "Trading Nation" that Buffett is "on the right track" as bank stocks could rebound 50% over the next 18 to 24 months.
• Visit Business Insider's homepage for more stories.

  ---

Warren Buffett shelled out $2.1 billion on Bank of America stock over 12 consecutive trading days, boosting his stake in the banking giant to almost 12% as of August 4.

However, the famed investor and Berkshire Hathaway CEO may have to wait years for a meaningful return, experts said on Wednesday.

See the rest of the story at Business Insider

NOW WATCH: A cleaning expert reveals her 3-step method for cleaning your entire home quickly

See Also:

• Morgan Stanley's top auto analyst told us why space investing is in danger of dot-com-style hysteria — and shared his best ideas for profiting from the booming theme
• A Wall Street quant chief breaks down why a COVID-19 vaccine is not the silver bullet investors have been hoping for — and warns another stock-market meltdown is likely
• These 16 global stocks have at least 20% upside in the next year — and they'll continue to thrive as COVID-19 accelerates a crucial technological shift, UBS says

from Feedburner https://ift.tt/33wPQPH