Warren Buffett’s stake in Goldman Sachs pays off…in a BIG way
Remember when Warren Buffett told everyone in a NY Times OP-Ed that the key to investing is to “Be greedy (BUY) when others are fearful and to be fearful (SELL) when others are greedy?” Well, I hope you listened.
Buffett famously took a stake in Goldman last September, at just the time when everyone felt as though the economic sky was falling. Now that the market is in the process of recovering, and Goldman’s stock has shot up, his investment is now worth about $9.1 billion….about $4.1 billion more than what he paid for it in September.
Not bad for 10 months of work.
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