1 Magnificent Dividend Stock Down 16% to Buy and Hold Forever

This is Buffett's favorite bank stock.Do falling stock prices make great buying opportunities? Like most things in life, it depends. A stock with a proven track record and excellent prospects that is falling based on short-term external headwinds -- well, that sounds like a bargain buying opportunity to me.Add a juicy dividend and a huge thumbs-up from Warren Buffett, and I think you've found a great candidate for your portfolio.With that introduction, let's talk about Bank of America (BAC -1.25%) and why y ...