Why buy MER at 29 when you can scoop it up much much cheaper? I recall Buffett getting in trouble for this once before... the SEC was demanding to know why he purchased a company for more than it was trading, claiming that doing so was detrimental to the Berkshire share holders. Do BAC shareholders have a reasonable protest against acquiring MER at such a price?
Disclosure: Short MER in CAPS.
I see a lot of optimism and little dissent (or any at all) when it comes to investing in water. The phrase "water is the next oil" seems to be the growing buzz. Yet, I sit here and scratch my head... water shortage hasn't been an issue before? Correct me if I'm wrong but, haven't there been short-term panics in the past about how we'll be out of oil/water by ten years ago? [more]