Buffett does very little business as you describe. He takes no real active role in the companies which he purchases and definitely doesn't "operate" them. The

Buffett does very little business as you describe. He takes no real active role in the companies which he purchases and definitely doesn't "operate" them. The advantage he had in the GS preferred stock offering in 2008 was his ability to provide liquidity and his name - if GS told people that Warren was investing in them then it was a real vote of confidence.