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Warren Buffet is richer for 5 billion through Goldman Sachs

Jul 26th, 2009 | By admin | Category: Main News

Warren Buffett once again proved that he is one of the best in the world of investors. As reported by the newspaper New York Times, the share of Buffett's equity bank holding company Goldman Sachs in just ten months has increased in value from 4.1 to 9.1 billion dollars.

This paper refers to an analysis conducted by a professor of finance at the University of Louisiana Linus Wilson. It is estimated that Wilson, if Buffett wants to sell their stake in Goldman Sachs, his profit will be 111% annualized.

For comparison: the profit of the U.S. government from the 10 billion dollars, which it last fall gave Goldman Sachs in the midst of financial crisis, was 23%.
Net income

Bank in the second quarter of this year amounted to 3.44 billion dollars. This has been significantly above analysts' forecasts and 65% higher than in the second quarter last year. During the same period, bank earnings jumped by 46% and amounted to 13 billion 760 million dollars.
Condition

Buffett because of the crisis fell by 25 billion dollars and now represents 37 billion dollars. According to magazine Forbes, he took a second line in the list of the richest people in the world after Bill Gates, whose estimate of 40 billion dollars.

78-year-old Buffett has been 40 years, heads the company Berkshire Hathaway, which has evolved from the efforts of his modest textile manufacturer in investment conglomerate, which owns the insurance, reinsurance and investment business, utility and energy assets, a number of industries - from construction materials to the confectionery .

company owned more than 60 companies in various fields, including Berkshire Hathaway is the largest shareholder in the bank Wells Fargo Co. and Coca-Cola Co, ITAR-TASS.

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