Buffett: I 'Love' Goldman Investment

Oracle gets behind Blankfein at shareholder meeting
By Newser Editors and Wire Services
Posted May 1, 2010 11:22 AM CDT
Buffett: I 'Love' Goldman Investment
A shareholder watches Warren Buffett as he eats an ice cream bar from Berkshire-owned Dairy Queen, prior the annual shareholders meeting, in Omaha, Neb., Saturday, May 1, 2010.   (AP Photo/Nati Harnik)

Warren Buffett has no plans to sell Berkshire Hathaway's stake in Goldman Sachs as the investment bank fights civil fraud charges, saying today that he "loves" his $5 billion investment because it generates 10% interest a year. The Oracle of Omaha spoke today during Berkshire's annual shareholders meeting—but only after he sang and played ukelele with the Quebe Sisters Band.

Buffett and vice chair Charlie Munger both say they're happy with CEO Lloyd Blankfein's leadership of Goldman. They say they don't view the Securities and Exchange Commission's charges against Goldman as a reflection against Blankfein. (More Berkshire Hathaway stories.)

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