4min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP527: The Epic Collapse of GE w/ William Cohan

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

Warren Buffett and GE

Warren Buffett bought $3 billion of GE preferred stock with a 10 dividend and he also receives these five year warrants. Warren had done the same thing at Goldman Sachs and at Bank of America so you know the Warren Buffett preferred equity seal of approval was something that was in the air at that time. When things didn't weren't going as well as Jeff had promised they would I think he thought he was told by Wall Street bankers that GE was ripe for an activist investor but two years later that all backfired too.

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