'Halftime Report' Traders Comment On Buffett's Purchase Of Bank Of America

CNBC "Fast Money Halftime Report's" traders commented on Warren Buffett's recent purchase of Bank of America Corp BAC.

Sarat Sethi said this is a good decision. The catalysts are still not there, but when the economy picks up, Buffett is going to have a good position. Sethi also has a long position in the name.

Joe Terranova said Buffett can't fix the headwinds that are challenging the money center banks. He is not a buyer because of the significant consumer exposure and the absence of trading revenue. Terranova owns JPMorgan Chase & Co. JPM and he thinks Wells Fargo & Co WFC has more upside than Bank of America.

Brenda Vingiello also owns JPMorgan, but she is not ready to increase exposure in the sector before the economy picks up and interest rates go higher. She added that Buffett is known for his long-term positions and his patience.

Stephen Weiss believes Bank of America is the best stock among the money center banks, but headwinds are too strong as interest rates are going to stay low for a long time. Weiss is not a buyer of Bank of America.

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