Goldman Sachs’s 10Q is out, and that means we get to take a deep dive into how the firm’s been performing 2012.There are tons of interesting factoids in here, including a section devoted to Berkshire Hathaway’s investment in the bank.
As you probably know, Buffett gave Goldman a $5 billion lifeline back in 2008 in exchange for a 5 year warrant to buy 43.5 million shares of common stock at $115 a share.
In the first quarter of 2011, according to the 10Q, Berkshire Hathaway made $160 million off their stake in Goldman.
Looking at this year’s numbers, though, it’s important to note that Buffett redeemed all of his preferred stock (Series G) in Goldman for $5.50 billion ($110,000 per share), so that 2011 number was going to drop significantly no matter what.
You can see that in the chart below (click to enlarge):
This year, without the preferred stock (which was costing the bank $500 million a year in dividends, according to the NY Post), Buffett still made $35 million.
That could be a reason to cheer.
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