InvestorQ : Is it true that, apart from airline stocks, Warren Buffett has also exited Goldman Sachs bought during the financial crisis of 2008?
Arti Chavan made post

Is it true that, apart from airline stocks, Warren Buffett has also exited Goldman Sachs bought during the financial crisis of 2008?

Answer
image
8 months ago
Follow

Actually, Berkshire Hathaway admitted that it had sold most of its stake in Goldman Sachs. In its regulatory filing detailing its US-listed investments as of March 31, Berkshire said its Goldman stake fell 84% from $2.76 billion down to $297 million. Berkshire also sold smaller stakes in Travellers Insurance and Phillips Petroleum. It may be recollected that Goldman stake originated in a $5 billion preferred stock investment at the height of the 2008 financial crisis. This was a bailout and Buffett had got Goldman for a song. However, the concern over banks as Berkshire is still a major shareholder in American Express, Bank of America, Bank of New York Mellon, JPMorgan Chase and Wells Fargo. Berkshire is already sitting on $137 billion in cash and this would have added further.

0 Views