Warren Buffett Takes a Goldman Stake

Buffett's Berkshire Hathaway will provide the giant investment bank with a $5 billion cash infusion in exchange for preferred shares

Warren Buffett, riding to the rescue at Goldman Sachs (GS) with a $5 billion cash infusion announced Sept. 23, has long used the services of the giant investment bank, though sometimes grudgingly so. When the Oracle of Omaha cut a deal with the Pritzker family last year to buy a $7 billion-a-year crazy-quilt of businesses called Marmon Holdings, Buffett proudly said that he and the wealthy Chicago family arrived at a price without the help of advisers, a style that let them avoid "nit-picking."

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