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 Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes