metal27

Does Warren Buffett Think Goldman Is More Creditworthy Than GE?

Buffet's GS and GE investments seem to combine equal parts of opportunism, value hunting, and an ability to create value simply by endorsing strong institutions in trouble, all at a very cash high return to him. Now i know why he has been sitting on that growing pile of cash for all those years!

Does Warren Buffett Think Goldman Is More Creditworthy Than GE?

Following the announcement, CNBC interviewed Buffet, who was on his airplane, which he said is powered by GE engines that were performing faultlessly! Buffet strongly endorsed GE, stated he believed the "bailout" will pass, and mentioned GS had brought him the GE deal.

Maybe it's time to buy BRK again.

GE Capital Default Risk Soars

Buffet just said "if we don't (get Congressional action on the bailout plan), then I'll have done some dumb things."

GE Capital Default Risk Soars

Buffet will buy$3B of preferred with a 10% return, get some warrants. Pfd is redeemable after 3 years, Buffet issued strong statement on strength of GE, is being interviewed on CNBC this minute.

Buffet says deal similar to GS deal, GE approached him.

GE Capital Default Risk Soars

CNBC is reporting that Warren Buffet will buy several $B of a new GE perpetual preferred and GE will sell $12B of common.