Berkshire Hathaway has been making a string of loans to distressed companies as part of his strategy of profiting during the gloom times. The latest is a classic Buffett-type of company: Tiffany’s (TIF). It’s an enduring brand with a product that won’t go obsolete, which is currently suffering under the weight of higher commodity prices and a weak consumer.
Buffett will get paid a 10% interest rate on his $250 million loan.
Disclosure: The author owns a single Berkshire Hathaway B-share.
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