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 head of brand strategy and creative at Bonehook in Portland, Oregon.