> Warren Buffett Blog: Warren Buffett praises Brian Moynihan

Tuesday, June 10, 2014

Warren Buffett praises Brian Moynihan

I think Brian Moynihan is doing a terrific job. He's got a lot of problems to deal with, not of his making. He's just methodically worked his way through. And one of the problems is when he thinks he's worked his way through, there's a few more.

He's done the right things. He's simplified the bank dramatically, brought down the balance sheet. He's brought it back to the fundamentals. Bank of America has a wonderful deposit franchise, and it will do well over time. When I first bought the stock, when I was talking to Brian, I said you have a long period ahead of you. You'll work through all of this.