Buffett rented good name to Goldman too cheaply
At the height of the financial crisis, Goldman Sachs sold Warren Buffett’s Berkshire Hathaway $5 billion of perpetual preferred stock with a 10 percent dividend and warrants on $5 billion worth of common stock at a strike price of $115 a share. This package gave Berkshire a return of more than 15 percent in exchange for its money and Buffett’s endorsement, which Goldman desperately needed to …
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