Buffett Hits Home Run with Goldman Sachs

A short eight months ago, the media was asking whether Warren Buffett, the worlds most astute investor according to many had lost his touch after placing large bets on Goldman Sachs through his investment fund, Berkshire Hathaway.

Goldman Sachs reported a record profit for the quarter as its stock has gone from a low of $47.41 to its current high of $165  giving Berkshire investors a return of 44% in just  a few months. Ordinary investors shunned the thought of sinking funds into a US based financial firm and financial advisors would be fired by their clients for recommending such action.

Give credit to Buffett for placing his money where his mouth was. He was one of the few and these bets are why he continues to do well. On one of my previous blog postings, I attached a New York Times article that Warren Buffett wrote outlining his conviction for investing and Buying American which you can read by clicking here.

Only time will tell if he is right but 60 years of following his conviction and being one of the richest men in the world because of it provides some backing.

Your thoughts and comments are always appreciated. Have a good weekend.