Wednesday, 24 September 2008

Goldman Sachs: the Warren Buffett Seal of Approval

This morning Bloomberg reports that Warren Buffett has invested $5 billion in Goldman Sachs. I'm glad to learn that Warren agrees with me :-) on GS since last week I took a flyer with some "play" money and bought 10 shares at $114 and change. Now that Warren is in, I feel a profit coming on. I'm holding out for $160.

I must admit this doesn't exactly fit with the buy and hold indexing strategy that I normally follow. What the heck, one has to have a bit of fun and thrills, especially now that markets have been so negative. As Mr. Buffett has remarked, the time to really make money is when times are at their most negative - in other words now. The reason I picked GS is that the general run of commentary lauds them as the best and the strongest. Someone has to survive and eventually thrive when things go bad and they seem to be the best choice.

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