Apparently, Nebraska is where you go when you’re running a company and want to prove to the world that everything is okay. First, he put $5 billion into Goldman Sachs, and now Warren Buffett, the Great Value Investor of the Missouri River Valley, is buying $3 billion of perpetual preferred stock in General Electric. Here’s the release GE put out—note Buffett’s vote of confidence. Never you mind, you people who fret about the health of GE’s finance arm. And it’s no surprise that Buffett got another great deal for himself: a 10% dividend on shares that are callable after three years at a 10% premium. Nice.
Barbara!