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Buffett made $10 billion off financial crisis
Posted By -NO AUTHOR- On 10/07/2013 @ 6:08 pm In Front Page,Money,U.S. | No Comments
(WALL STREET JOURNAL) Billionaire Warren Buffett tossed lifelines to a handful of blue-chip companies during the financial crisis. Five years later the payoff on those deals is becoming clear: $10 billion and counting.
Mr. Buffett approached that figure after he collected another hefty payment last week, bringing to nearly 40% the pretax income on his crisis-era investments, according to a Wall Street Journal analysis.
The bounty is a vivid illustration of one of Mr. Buffett’s favorite investing maxims: “Be fearful when others are greedy, and be greedy when others are fearful.”
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