Actually, the preferred stock in Goldman is an option. He has the option to buy the stock at $123 indefinitely, meaning if it ever goes above that amount he can then choose to buy it and sell it for a profit.
And like I said, the stock went down with the market. Yes, at one point his stock was down 44%, but so was everything else. And if you look at the fundamentals, they have a small leverage ratio, close to zero actually if I remember correctly, lots of cash, and are one of a handful of companies still rated AAA.
The guy in the article keeps saying if only he had access to more cash he would be making piles more money. Well Buffett has the cash, and he's going to rake it in when the market rebounds.
And like I said, the stock went down with the market. Yes, at one point his stock was down 44%, but so was everything else. And if you look at the fundamentals, they have a small leverage ratio, close to zero actually if I remember correctly, lots of cash, and are one of a handful of companies still rated AAA.
The guy in the article keeps saying if only he had access to more cash he would be making piles more money. Well Buffett has the cash, and he's going to rake it in when the market rebounds.