The New York Post reports that’s how billionaire Buffett may view his 2008-era investment in Goldman Sachs.
The Oracle of Omaha extended a helping hand to the bank run by CEO Lloyd Blankfein during the depths of the financial implosion five years ago.
Today, it continues to pay dividends - literally.
Buffett stands to make a paper profit of $2.15bn in Goldman after the investment bank hands him 13.6m shares - without the savvy investor having had to pony up a red cent, based on a special arrangement with the bank.
So far, Buffett has generated a paper profit of $3.92bn - including $1.27bn in dividends and a $500m redemption fee - from his initial Goldman investment, according to Linus Wilson, assistant professor of finance at the University of Louisiana at Lafayette.
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