3 ms·
The article talks about a deal struck in MID 2008, mid 2008 sounds awfully like two months before Bear Stearns crashed in September 2008, begetting economic apo
by fleitz 16y ago
The article talks about a deal struck in MID 2008, mid 2008 sounds awfully like two months before Bear Stearns crashed in September 2008, begetting economic apocalypse. To take a 7% haircut from the peak of the market is not a bad return. Especially good would be to be fully liquid during that period, hindsight is of course 20/20 and buying GS during that period would have been viewed as very risky, but again, in hindsight there would have been some amazing opportunities sitting on $125 million in cash. A deal struck today would probably be 20-30% less than mid-2008 valuations. There are an amazing number of blue chip stocks that you could have bought in 08Q3 to 09Q2 that would have doubled your money by now. I'm not familiar with the particulars of the deal but it sounds like sour grapes on what was probably a great deal retrospectively for the sellers.