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Buffett buys into Goldman Sachs

September 23, 2008 | About:

Warren Buffett buys $5 billion of 10% Yielding Perpetual Preferred Stock and receives warrants for $5 billion of common stock at a strike price of $115. Buffett is essentially buying 10% of Goldman based at its current market cap of around $50 Billion. This is a big endorsement for Goldman.

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Happy investing to all.


Rating: 3.5/5 (10 votes)

Comments

mountaincloud
Mountaincloud - 7 years ago


Anything peculiar about 10% here, (10 year treasury yeilding 3.85%, current inflation at 5.37%) ?

Preferred at 10% yield (or callable at any time at a 10% premium)

Strike price of $115 is about 10% below current price of $125.

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