The famed investor's company handed the funds to the investment bank in 2008 at the height of the financial crisis. In exchange, it received $5 billion in preferred stock paying a 10% annual dividend, and warrants enabling it to buy 43.5 million of Goldman's common shares at $115 each at any point in the ensuing five years.
"I don't want those ticks to go away," he added. "I just love them. They go on at night when I sleep." Goldman also renegotiated the warrants in 2013, effectively allowing Berkshire to exercise them for free in exchange for a much smaller stake in the bank. Buffett's company received 13.1 million shares, giving it a roughly 3% stake in the bank, worth about $2.1 billion at the time. Under the original terms, it would have become the bank's largest shareholder.Small companies are the biggest post-coronavirus battleground on Wall Street.
Assuming Berkshire broke even on its purchases and sales of Goldman stock up to the end of December — and it sold the 10 million shares at $135 each, the bottom of Goldman's share-price range last quarter — it cashed out about $1.4 billion from stock sales.
so they made 60% returns on 10 years? seems low...
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