 CNBC Fast Money Halftime Reports traders commented on Warren Buffetts recent purchase of Bank of America Corp NYSE: BAC.Sarat Sethi said this is a good decision. The catalysts are still not there, but when the economy picks up, Buffett is going to have a good position. Sethi also has a long position in the name.Joe Terranova said Buffett cant fix the headwinds that are challenging the money center banks. He is not a buyer because of the significant consumer exposure and the absence of trading revenue. Terranova owns JPMorgan Chase Co. NYSE: JPM and he thinks Wells Fargo Co NYSE: WFC has more upside than Bank of America.Brenda Vingiello also owns JPMorgan, but she is not ready to increase exposure in the sector before the economy picks up and interest rates go higher. She added that Buffett is known for his long-term positions and his patience.Stephen Weiss believes Bank of America is the best stock among the money center banks, but headwinds are too strong as interest rates are going to stay low for a long time. Weiss is not a buyer of Bank of America.Image credit: Fortune Live Media, FlickrSee more from Benzinga Brian Stutlands Gold Trade Joe Terranova Shares His Thoughts On Monster Beverage And Palo Alto Halftime Report Traders Advise Viewers On GM, Blackrock And MoreC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 