Warren Buffett Shines on Strength of Goldman Stake
| August 1st, 2009 | ||
| On July 24th, 2009, The New York Times reported that Warren Buffett could have an annualized return of 111% if he sold his current stake in investment bank Goldman Sachs (NYSE: GS). Buffett’s firm, Berkshire Hathaway (NYSE: BRK.A), bought $5 billion of Goldman stock about 10 months ago; it is now valued at $9.1 billion. The firm received “perpetual preferred shares” in Goldman, which feature a 10% annual dividend amounting to $500 million. The deal was struck with a strike price of $115 and was valued using a recent closing price of $160.46 a share. The article went on to mention that Buffett was “unlikely to sell his stake right away.” | ||
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For Detailed Investor Profiles on these Investors, click below: |
Berkshire Hathaway (Warren Buffett) |
Related People: Charles T. Munger;
Related Entities: Berkshire Hathaway Finance Corp;
Related Article Tags: Investment Management, Fund Manager and General Financial News
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