Warren Buffett has done some sweet deals before in times of crisis:
BAML in 2011
— $5B cash for $5B preferred shares (5% dividend)
— warrants for 700m common at $7.14 per share (when he exercised in 2017, it was ~$30 a share)
— So in 6 years, turned $5B into $20B+ and $1.5B in dividends
— Today, owns 13% of BAML
— $5B cash for $5B preferred shares (5% dividend)
— warrants for 700m common at $7.14 per share (when he exercised in 2017, it was ~$30 a share)
— So in 6 years, turned $5B into $20B+ and $1.5B in dividends
— Today, owns 13% of BAML
Goldman in 2008:
-$5 billion in preferred stock paying a 10% annual dividend
— warrants enabling it to buy 43.5 million of Goldman's common shares at $115 each at any point in the ensuing five years
— By 2020, he netted $3B on top of initial $5B investment
![Warren Buffett has done some sweet deals before in times of crisis:](https://ussnsimg.moomoo.com/feed_image/70636860/19adb7bf701232fb992865033f0ed9a6.png/bigmoo)
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