Bloomberg: Warren Buffett Cuts Crisis-Era Bet on Goldman

I am quoted in this Bloomberg article on Berkshire selling 84% of its stake in Goldman Sachs.

“He has this historical relationship with Goldman, so maybe there’s some sentimental value,” said David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business. “But of course, Buffett’s primary concern is efficient allocation of capital.”

“He’s always been a little skittish about investing in investment banks after getting somewhat burned in the Salomon experience,” Kass said.

 

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