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Mr. Buffett is aware of the bank's mortgage issues, but a person briefed on his thinking said that the investor felt that Bank of America was well positioned to make money over the long term and that the legal woes would diminish.
If a foreign investor felt these rules had been violated, they would have access to a system known as investor state dispute settlement, or ISDS.
The investor felt his fever rising.
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"You have to — as an entrepreneur — make me, as an investor, feel greed," he said.
The "rule of law", for example, measures how secure an investor feels about his property.
His purpose was to help the individual investor feel confident and empowered.
But it will take six years until the average investor feels safe.
In other words, by the time an investor feels even marginally comfortable that a bear market bottom is in place, the stock market has already rallied too far for the investor to feel comfortable about stepping in.
When an investor feels a stock is overvalued, his broker contacts a prime broker to borrow the shares.
As the market heads back up, the investor feels satisfied with their new advisor until the next downturn.
His investors felt differently, with good reason.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com