Bank of America stock price
Santa Claus's gift to MainePERS: a two-dollar December rally. Times 2.5 million shares. Equals five million dollars.
So take it already. Mega-manager John Paulson has taken his. And better act soon. While the Western world was leaving Santa milk and cookies, the People's Bank of China was raising interest rates by 25 basis points (the second of several hikes?) in hopes of forestalling a hard landing. The Shanghai Composite Index is already down 10% since its November highs. U.S. stocks are next.