Amar Ujala 28 April 2010
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Wednesday, April 28, 2010
Dainik Bhaskar 28 April 2010
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Dainik Bhaskar 28 April 2010
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Dainik Jagran 28 April 2010
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Dainik Jagran 28 Aapril 2010
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Hindustan 28 April 2010
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Hindustan 28 April 2010
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Political & Business Daily 28 April 2010_For Indian investors, stock market is like casino:Study
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Tuesday, April 20, 2010
What if history repeats!!!
What if history repeats!!!
What if history repeats, Warren Buffet to become the Chairman of Goldman Sachs?
In 1987, Wall Street investment banks were going around trying to raise capital to shore up their balance sheets that were damaged from investments in junk bonds. In such background, Warren Buffet came to the rescue of Salomon Brothers, with his investment of US$ 700 million in Convertible Preferred stock of Salomon.
Everything went well, until August 1991, when a major legal irregularity and a scam broke out on the bond trading desk of Salomon Brothers. This has, in fact, forced Salomon Brothers to the brink of bankruptcy and the world economy was at the risk of severe damage.
In such scenario, Warren Buffet has become the Chairman and CEO of Salomon on fire-fighting basis. He has to remain there for 9 months to bring back the Salomon Brothers into shape. He has exited this investment in 2001. After such horrific experience, he has never again invested in any other Wall Street bank. And, he has famously said: “If you want to make money on Wall Street, you have to hold your nose and go.”
Again in Goldman Sachs?
After almost 7 years of exiting Salomon Brothers, Warren Buffet has again invested in a Wall Street bank in 2008. That is, in Goldman Sachs amidst of awful economic conditions panned out post-Lehman bankruptcy.
Not sure, whether the history is repeating itself, but even Goldman Sachs is sued by SEC for a fraud on 16th April, 2010. The magnitude of problem is intensifying with, even the regulators from London and Germany have also started probe into Goldman Sachs.
As this scenario unfolds, one can’t resist from the view that if history repeats itself, whether we are just about to witness: Warren Buffet to head Goldman Sachs?
It would be really fascinating to watch “the world’s most renowned investor heading the world’s most renowned investment bank”.
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