Buffett: We are making $15 a second from Goldman stake

clock

Billionaire investment guru Warren Buffett says it will be a "sad day" when Goldman Sachs unwinds his profitable $5bn position in the banking giant.

Buffett, who made the preference shares investment during the height of the financial crisis in 2008, told Fox Business he waiting on Goldman to tell him of its intention to repay the investment. "I have not received a call yet from Goldman telling me they want their money back," Buffett says. "They'll call when they can, and it'll be a sad day," he said with a laugh, as it is incredibly profitable to Berkshire shareholders. While Buffett's capital injection allowed Goldman to avoid much of the pain felt by investment banking peers, it did come at a cost to the company. Buffett ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers have opportunity to deepen private market engagement

Advisers have opportunity to deepen private market engagement

Most client allocations to private markets are either 5%-10% or 1%-5%

Isabel Baxter
clock 18 November 2024 • 2 min read
Royal London cuts number of governed range portfolios

Royal London cuts number of governed range portfolios

Renaming remaining portfolios to reflect level of investment risk

Jenna Brown
clock 18 November 2024 • 1 min read
AJ Bell cuts fees across multi-asset income range

AJ Bell cuts fees across multi-asset income range

£1.5bn of inflows this year

Beth Brearley
clock 14 November 2024 • 1 min read