Market Currents

The WSJ highlights how Bank of America (BAC) made a net profit of around $1.14M on trading...

Thursday, March 7, 5:37 AM ET
The WSJ highlights how Bank of America (BAC) made a net profit of around $1.14M on trading options in Constellation Brands (STZ) in the summer, around the time the latter said it was acquiring Crown Imports from AB InBev (BUD) as part of the Belgian brewer's acquisition of full control of Modelo. BofA was an adviser on the Modelo deal and played a crucial role in the funding of both transactions. BofA says that the Chinese wall between different parts of the bank was maintained.

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This news story has 5 comments:

DeepValueLover Comments (5137)

BAC earns $1.14 million every couple of minutes.

Not a huge issue.

7 Mar, 07:40 AM Reply Like

gwynfryn Comments (1852)

True, but I like the chinese wall reference; doesn't the so called Great Wall of China actually consist of a series of such walls, separated by numerous gaps?

7 Mar, 08:55 AM Reply Like

benitus Comments (784)

Gwynfryn....actually, the Great Wall is a continuous wall that runs through cities, mountains and valleys, which had been in much disrepair for several hundred years, but the chinese govt has in recent years used its new-found wealth and resources to restore the Great Wall to its former glory, particularly in Beijing, where the bricks had been riped off in many places (exposing unsightly holes and wear) by the people to build their houses in years past. In fact, it's now a crime for anyone to inflict similar damage on the national heritage. The original length of the Wall was around two-thirds of its final length (maybe less) and subsequent emperors had added to its length, as the empire grew and it was found effective to keep out northern savages. It was first breached at a point inside Beijing when the last Sung emperor was indulging in debauchery (much like Nero) and neglected the military's decay. I think the spot is now marked with a pavilion of shame, which is quite a tourist attraction.

7 Mar, 12:19 PM Reply Like

JayXu Comments (210)

1.14 Million for such a big bank, does it really worth all the efforts, WSJ?

7 Mar, 08:48 AM Reply Like

ppk721 Comments (27)

Modelo & Mozzelo- is it such a reach?

7 Mar, 09:25 AM Reply Like

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