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 cpeterson@bloomberg.net


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  • GS
    (Goldman Sachs Group Inc/The)
    • $187.89 USD
    • 3.07
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  • A
    (Agilent Technologies Inc)
    • $58.4 USD
    • -0.49
    • -0.84%
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