Bloomberg News

Warren Buffett Profits From Goldman Sachs Rejects, WSJ Says

April 12, 2012

Billionaire investor Warren Buffett benefited from leveraged loans unloaded by Goldman Sachs Group Inc. (GS:US) traders, the Wall Street Journal reported, citing people familiar with the matter.

Goldman sold about $85 million in loans made to newspaper publisher Lee Enterprises Inc. at about 65 cents on the dollar; the bank sustained a loss of $13 million after it had originally paid 80 cents, the WSJ said.

They were acquired by a unit of Buffett’s Berkshire Hathaway Inc. (A:US), which has so far made a profit because the loans are now worth 82 cents to the dollar, the newspaper reported.

To contact the editor responsible for this story: Chris Peterson at

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Companies Mentioned

  • GS
    (Goldman Sachs Group Inc/The)
    • $177.84 USD
    • 0.93
    • 0.52%
  • A
    (Agilent Technologies Inc)
    • $52.35 USD
    • 0.08
    • 0.15%
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