Lockstep Investing

Goldman Sachs: Buffett's the Milkman and He Always Delivers

What? Are you nuts? "This sets a floor price on the common stock" No it does not. It is just a call option if GS survives this mess intact or gets bought out by someone who wants to retire the debt. But if this sex change (read: business model change) does not work out as planned, GS stock will continue to decline and the warrant is worthless but the dividends keep paying to the end. Warren is still taking risk and GS still has significant downside risk.