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Billionaire investor
"He had a lot of rocks to turn over and it cost a lot of money and he just set out step by step to bring the bank back and he's gone from 280,000 or so people down to 210,000," Buffett explained. "He's gone from a run rate of expenses in the $70 billions to $54 billion."
Moynihan's dedication and effort to improving the bank have earned Buffett's seal of approval for the very long term.
"We will be holders of BofA stock for a long, long, long time," Buffett concluded.
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