SAC Capital sells 90% stake in Bank of America
The story i first saw at The Business Insider, shows SAC took their beans off the table sometime last month. Bank of America is leading the financials, the money has to follow the money. If hedgies start taking profits my feeling is they will follow each other. It takes a lot to move BAC, and when she starts looking sick, she is probably already sick. Here decline the past few weeks was probably the incubation period for her sickness.
Now lets see if CNBC reports this story… sparks will fly if they do, much like Whitney’s comments.