The Oracle of Omaha’s Blessing (And Cash) Come In Handy

Today’s a good day to be Goldman Sachs.
Warren Buffett, the wisest investor in Stock Market history, just gave the firm a vote of confidence like no other. Nothing talks like money, and Buffet’s firm, Berkshire Hathaway, just put $5 billion on the table.
Buffett says Goldman Sachs is an exceptional institution. “It has an unrivalled global franchise, a proven and deep management team and the intellectual and financial capital to continue its track record of outperformance,” he says.
No doubt, Goldman Sachs is also a good buy for Buffett. He doesn’t overpay for companies.
The news comes a day after fellow investment bank Morgan Stanley announced an $8 billion deal with Mitsubishi UFJ Financial Group, which will see the Japanese bank take an up to 20 per cent stake in Morgan.
[via National Business Review]

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am now head of brand strategy and creative direction at Bonehook in Portland, Oregon.