Nuttal makes the same mistake as Warren Buffet bails to soonA couple of years ago Buffet provided back up liquidity financing to Home Capital savings and loan mortgage lender . As part of the deal he got 19.99% of the shares at a discounted price of 10 per share when book value was about 25. Within 6 months the back up liquidity was replaced with conventional financing. Shortly after that the co. made a substantial bid for 30% of their shares
at 16 per share which Buffet accepted even thought this boosted the book value to 30. Within in a year the shares rose to about 43 as the company was reporting substantial profits and book value was soaring. So while Buffet made a nice short term profit , he left alot more on the table than he made.