Buffett loves Goldman Sachs

Warren Buffet Still

It pays to be the banker’s banker - at least for Warren Buffett, who will net roughly $4bn from Goldman Sachs for his efforts.

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.

To access the complete New York Post article hit the link below

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