I heard on CNBC this morning that the GS preferred shares that Buffet bought were puttable @ 90 cents on the dollar. If that is the case, Buffet makes 10% if the market is flat, participates in a rally thanks to the warrants and can only lose 10% if it is puttable.
I have been trying to confirm this, but I have not been able to thus far. Anybody know?
Thank you.
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