Still, he’s Warren Buffett. He got a deal. And imponderable mysteries (and meaningless EPS numbers) aside, you could if you wanted to calculate the value per common share that Buffett’s investment implies for BAC. This is neither rocket science nor particularly scientific at all and I suggest it only because, in my former life, I often encountered people who thought it was a sensible thing to look at and ponder in their hearts.
So here is a Google Docs spreadsheet that does it. Short answer is about $5.28, which is just a bit less than the $7.14 strike price on Buffett’s warrants, or the high-$7s area where it’s currently trading.