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Billionaire investor Warren Buffett announced he will buy $3 billion in G.E. preferred stock, "G.E. is the symbol of American business to the world... They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come.” G.E.'s stocks dropped this morning. Eight days ago, he invested $5 billion in Goldman Sachs. In the meantime, the Senate will vote on bailout legislation tonight and stocks are basically unchanged from yesterday.
Warren Buffett Buying Stake in G.E.
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It's the same media that NEVER mentioned Muslims' hatred of Israel as a possible motive for 9/11.
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he's not doing it for charity that's for sure. He's not even doing it so the companies stay afloat. He's doing it cause goldman is domino #1 in the finance industry and GE is domino #1 in blue chips. If they fail then everything else fails and guess who is the biggest investor in almost everything? warren buffet. Buffet knows that no ones fucking with his money so he's got to do this to shore up his portfolio. He's publicly stated he thinks financial analysts are snake oil salesman so why would he buy up goldman? the speculation has run dry. Everyone knows there ain't no gold in them thar hills.
I don't think both companies will collapse unless conditions get MUCH worse. If GE runs into problems, they'll just break up. Conglomerates will can sell or spin off its subsidiaries to sure up the bottom line. Besides if their finance arm starts to loose money, its aircraft or appliance division could pick up the slack. GE is massive.
Value investing at its finest. And, arguably, he IS doing it for charity because his whole largess will go to the Gates Foundation.
DUDE. IS. RICH.
GE is one hell of a buy. Once this thing straightens out, it'll fly. Remember, you saw it here.
Warren Buffett is like a lottery winner at a thrift store who can buy everything and does and annoys the others that couldn't make up their minds about a 50 cent knick knack.
What a sweet deal this guy got - big discount to the market price, a 10% dividend, and options to buy more at a fixed price. Forget GE, it's time to buy Berkshire Hathaway stock!