BAC compared to SPX and NDX: Dot com top and bottom

Berkshire Hathaway bought 33.9 million shares of the banking giant between Monday and Wednesday. That increased Berkshire's stake in Bank of America by $813.3 million to more than $24 billion. BRK holds 11.5% of BAC now.

BAC chart compared to S&P500 .
Observe the top of both the NASDAQ and S&P

BAC started bottoming when the 2 indices started falling.
2008 was a banking crisis which directly impacted BAC and it fell relatively harder than the indices. In 2020, Banks are well capitalised and backed by the FED, so chances of a banking crisis are slim.

Add to that, NASDAQ is clearly overcooked at the moment(Check the historical chart. Top of the major trendline. That said, it Could also break up)


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