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That's certainly part of it, but in the "buying mispriced assets" category, Buffer made some very smart, large bets. During the Great Financial Crisis, BH made
by hn_throwaway_99 10mo ago
That's certainly part of it, but in the "buying mispriced assets" category, Buffer made some very smart, large bets. During the Great Financial Crisis, BH made a $5 billion investment in Goldman Sachs that eventually made them billions in profit when everyone else was running for the hills.
- bigthymer 10mo agoI actually think this is a deal only Buffett could have made. By bringing on Buffett as an investor, it sent a signal to the market that the bank was solvent and improved confidence in the company. Another investor would not have brought the same calm so would not have had the same return even if they bought the same amount at the same time.