Warren Buffett, the so-called Oracle of Omaha’s most recent $ 5 billion investment in a troubled Bank of America, is only the latest high-profile deed in Buffett’s long contrarian track record. Similarly, back in 2008, the investor also made a wise $ 5 billion investment in Goldman Sachs. Moreover, at the middle of this month, Warren Buffett urged U.S members of Congress to ‘Stop Coddling the Super Rich’. Here are seven of Warren Buffett’s most memorable newsmakers.
The 1964’s “salad oil scandal” ended up costing American Express approximately $ 58 million and much of its reputation and its stock quickly lost 50% of its value. Buffet took advantage of this opportunity; observed people beginning to use credit cards in their daily transactions, and recognized AXP’s potential to become an American blue chip to invest $ 1.28 billion in the company. Those shares are now worth more than $ 5 billion and Berkshire Hathaway currently owns 12.7% of American Express.
Warren Buffett decided to invest $ 1.28 billion in American Express in 1964
Taking advantage of the turmoil in the markets in 2008, the billionaire made a wise $ 5 billion investment in Goldman Sachs via a preferred purchase in which Buffett earned a hefty 10% dividend yield
In a 2010 interview, Billionaire investor Warren Buffett shared: ” We’re in a recession” when talking about the U.S. economy remains in recession
In July 2011, legendary self-made investor accused GOP-controlled House of Representatives of playing ‘Russian roulette’ and trying to ‘blow America’s brains out’ with their defiance on debt
At the early August 2011, Warren Buffett told Bloomberg Television’s Betty Liu S&P made a mistake and the United States deserved a “quadruple A” rating and repeated his view that the economy will avoid its second recession in three years.
Warren Buffett’s most memorable newsmakers: ‘Stop Coddling the Super Rich’ with low taxes
In the other word, the billionaire Warren Buffett demanded U.S. lawmakers to increase taxes on the country’s super-rich to help cut the budget deficit.
The latest event in August 2011 is his $ 5 Billion investment in Bank of America
Following this deal, Buffett’s holding company Berkshire Hathaway will buy 50,000 shares of Bank of America preferred stock at $ 100,000 a piece.
Warren Buffett’s Most Memorable Newsmakers: $ 5 Billion Investment in Bank of America
Jolie Crussel, an economic expert, is keen on analyzing the economic situations in the world. Currently, she often delivers lectures on economic solutions to students and provides advice for many firms.