The shareholders of Berkshire Hathaway were disappointed by Warren Buffett’s defence of Goldman Sachs at their annual meeting in Omaha, Nebraska this weekend, and I admit to being disappointed too.
Despite the doubts expressed by Charlie Munger, Mr Buffett’s business partner, about Goldman’s conduct in the synthetic CDO market, the Sage of Omaha threw his considerable weight behind the bank.
The Oracle of Omaha has spoken and Lloyd Blankfein must be breathing a sigh of relief.
As I noted in my post below, a lot was riding on what Warren Buffett had to say about Goldman Sachs at the annual meeting of Berkshire Hathaway shareholders this weekend. As it turns out, Mr Buffett has come out strongly in Goldman’s defence.
What will Warren Buffett say about Goldman Sachs?
Back to Irene Rosenfeld, who despite her degree in psychology, appears to have upset an awful lot of people with Kraft’s £11.6bn takeover of Cadbury.
Having made herself unpopular in the UK by acquiring the maker of Cadbury’s Dairy Milk and the Curly Wurly, she has alienated Warren Buffett, her biggest shareholder, who regards it as “a bad deal”.