All Posts Tagged With: "thestreet.com"

Buffett’s Goldman Deal Has Big Benefits, but What Else is Berkshire Up To?

Investing icon Warren Buffett took his own advice Tuesday – getting “greedy when others are fearful” – when he ignored the banking-sector bonfire and slapped down a cool $5 billion for a stake in Goldman Sachs Group Inc. (GS).

By literally putting his money where his mouth is, Buffett’s actions – and reputation as a shrewd bargain hunter – restored some of Goldman’s luster and helped bolster investor confidence in the U.S. banking system.

And the “Oracle of Omaha” isn’t done, yet.

Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) agreed to buy $5 billion in perpetual preferred Goldman shares that pay 10% interest. In…

25Sep2008 | Money Morning | Comments Off | Continued

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