It was quite pricey, raising the question, WTF Lloyd?
The Dow Jones Industrial Average closed down 29 points, its 3rd straight decline but by far the smallest of the week.
From the Los Angeles Times:
Buffett infusion bucks up GoldmanWhat we were posting
Buffett's Berkshire Hathaway Inc. agreed to invest $5 billion in the investment bank via a purchase of preferred stock, Goldman announced after the stock market closed. Berkshire also will get warrants to buy about 10% of Goldman's common stock at a discount price of $5 billion....U.S. housing prices drop 5.3% in July
Long, dark tunnel seen for California's economy
FBI said to be probing failed firms
AIG's stunning fall has global ripple effects
Bailout runs into a populist backlash
Pickens Funds Down About $1 Billion
Democrats to let offshore drilling ban expire
So Why No Climateer Investing Comment On the Buffett Goldman Deal? (BRK.A; GS)
Long time CI readers know that we've been stalking Warren for a while (I didn't understand BKHT at $800, he said shame-facedly).7:48 a.m.
This $5 bil. deal has some very intriguing ramifications for both financiers and policymakers. It also contains insight for investors that I want to think through.
In the meantime, use of the 'Search Blog' box for Buffett or Berkshire is good fun. Possibly rewarding too.
Or try 'Munger', not nearly as many results but not bad. The first hit is:
The 5 a.m. Buffett Breakfast Cluba few results later, the best senior management 'all purpose turn-around' I've ever seen:
They’re rich. They’re cheerful. They’re morning people.
"Think about it a little more and you will agree with me because you're smart and I'm right."
-Charlie Munger, Vice-Chairman, Berkshire Hathaway
Impact of the Renewable Energy Subsidies on the Solar Stocks-First Take
Trina, You Little Tease (TSL)
WaMu Debt Cut From ‘Junk’ to ‘Junkier’ (WM)
Odds Of Government Bailout By End of Month at 80%
DO NOT make investment decisions based on this factoid. (that said, I think the odds are closer to 100% and should probably get a bet down on the mispricing)...1:04 p.m.
Gore urges civil disobedience to stop coal plants
A Guy Who Might be Smarter then Warren Buffett Talks About the Financial Mess (AGO; BRK.A)