You might think that when Warrent Buffet says "Rule One: Never Lose Money. Rule Two: Never Forget Rule One." it means that he makes money on every trade. He doesn't. At least, not when it came to BoA:
Warren Buffett’s Berkshire Hathaway Inc. sold its stake in Bank of America Corp., ending an investment that spanned three and a half years in which the lender’s stock lost more than two-thirds of its value.
Buffett’s firm had no shares in the Charlotte, North Carolina-based bank at the end of 2010, compared with 5 million shares three months earlier, Berkshire said late yesterday in a regulatory filing that lists the company’s U.S. stockholdings.
Berkshire, where Buffett serves as chief executive officer and head of investments, entered the Bank of America stake with the purchase of 8.7 million shares in the second quarter of 2007.
This is why you shouldn't follow what people say, follow what they do.