Admittedly he is one of my heroes… so find the salt shaker.
The nice thing about a market “crash” is that alot of valuable companies become cheaper by way of collateral damage. The catch is that you need to have some cash hanging around to get in on the deal and by hanging around i mean RIGHT NOW.
$10B oughta do it.
Buffett is getting $3 billion in perpetual preferred stock offering a dividend of 10 percent. It is callable, at a premium of 10 percent, in three years. He also got warrants to buy $3 billion in common shares at $22.25 over three years. Bottom line: Very sweet.
Buffett has plenty of cash lying around – he said he likes to keep a minimum of $10 billion in cash on hand at Berkshire Hathaway – so this is a perfect time for him to Hoover up plenty of stocks that likely will rebound.
By this time next year, the world’s richest man may have significantly widened his lead on the field.