c***y
发帖数: 286 | 1 he jumped on board at 115 in 2008; since his exit at 150 in March, GS has
dropped 50% in value. Great great timing of the market!!
I guess the same thing will play out again on BAC.
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* March 18, 2011, 1:25 PM ET
Goldman Sachs is Buying Out Warren Buffett’s Stake
We’ve been waiting forever. And now Goldman Sachs confirmed it will buy
back the preferred stock that Warren Buffett owns in the Wall Street titan.
Associated Press
Deal Journal readers will recall Buffett threw a $5 billion lifeline to
Goldman during the financial crisis. The investment from the world’s most
famous investor help boost confidence in Goldman’s health, but also was
costing the company hefty dividend payments that worked out to $15 a second
into the Oracle of Omaha’s pocket.
Goldman said it will redeem Buffett’s preferred stock at $110,000 a share,
or $5.5 billion, and the redemption includes a one-time dividend of $1.64
billion that will drag down Goldman’s first quarter financial results by
about $2.80 a share.
The announcement comes after the Federal Reserve put Goldman and other banks
through their paces, making sure the banks are healthy enough to boost
capital returns to shareholders. The Goldmanites have been eager to replace
the cost Buffett investment, which also came with some onerous strings
including restrictions of Goldman executives selling stock. |
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