Buffett made $3 billion on the $5 billion he invested in Goldman Sachs during the 2008 financial crisis. He bought in low, the federal government bailed out the big banks and he profited greatly.
Could his conversations with Biden officials lead to another highly profitable deal?
“Could his conversations with Biden officials lead to another highly profitable deal?”
Yeah, Buffett is all about picking up high-quality assets on the cheap in a crisis. He’s also a crony capitalist who loves sweetheart government-brokered deals. I don’t have a crystal ball but I’ve got to think that First Republic bank, with a $100+ billion loan portfolio but a current market cap of around $6 billion, might look attractive to Buffett especially if the Feds sweeten the deal for him.