The BofA $136B Dynamite Stick
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The BofA $136B Dynamite Stick
Mayo said he’s been talking to the Financial Accounting Standards Board and “they aren’t going to change 40 years of rules right now. So the reality is they don’t have to sell.”
The BofA $136B Dynamite Stick
40 years sounds like a long time but it's basically the length of the now-previous bond market, which i would represent as only one cycle of bond-bullishness
(Which, presumably is why, once upon a time Lloyd Blankfein , the former C.E.O. of Goldman Sachs, told me that he spends 98 percent of his time worrying about things with a 2 percent probability of happening.)