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Buffet was never a director at Goldman. Thanks for the catch. See my edit above for more. Berkshire did not loan the $5 billion and receive the options until
by miked 17y ago
Buffet was never a director at Goldman.
Thanks for the catch. See my edit above for more.
Berkshire did not loan the $5 billion and receive the options until well after the financial mess...
This is effectively wrong, since the TARP funds were issued after the investment. See the link at the edit above.
- karl11 17y agoSure they were, but he didn't make the loan until well after everything collapsed. In fact the U.S. Treasury was practically begging for him to make these investments and he said he would only do a deal with Goldman because he knew they were the only bank left that was financially sound. EDIT: And Wells Fargo. He bought into Wells Fargo huge. In any case, I think that if there anyone who has demonstrated an immense understanding of the American economy for the last 50 years, it's Warren Buffet and his partner Charlie Munger. There is no one/duo that has been more successful at investing and predicting long term economic scenarios over this time period.
- jbooth 17y agoYeah, given that he stayed out until things collapsed, then swooped in and bought at the bottom, I think it's pretty hard to tag him with "involved in the collapse".