But last year, anticipating new regulatory restrictions on proprietary trading and seeking to reduce the bank’s exposure to risky assets, Goldman loan traders unloaded hundreds of millions of dollars of leveraged loans at a loss, people familiar with the matter say. Making matters worse, many of those loans have since jumped in value. Details of one trade in particular have recently caused a stir in the market. In November, Goldman sold about $85 million of loans in troubled newspaper publisher Lee Enterprises Inc. LEE +0.88% Goldman sold the debt at about 65 cents on the dollar, having bought it months before at around 80 cents, resulting in a loss of at least $13 million. The buyer: a unit of Warren Buffett’s Berkshire Hathaway Inc.
Why does Warren Buffett still have a ‘secretary’? (CNN)
If the word “secretary” doesn’t conjure up an image for you, just run a quick Google Image search.
The pencil in the mouth is a recurring motif, as are beaming women in headsets seated in front of computers. Images abound of women in low-cut blouses, legs crossed under tiny skirts, alongside head shots of Secretaries of State Madeleine Albright and Hillary Clinton. The women of “Mad Men” hold their ground next to bondage shots of Maggie Gyllenhaal from the movie “Secretary.”
Given its cultural baggage, the term “secretary” has been jettisoned over the past three decades. It’s why we won’t be celebrating Professional Secretaries Day on April 25, but rather, Administrative Professionals Day. Retiring the term made way for the “administrator,” “assistant” and “support staff” of today. (It’s tucked away with the word “stewardess.”)
Then why is it that billionaire Warren Buffett still has a secretary — with a higher tax rate, as we heard over and over again this week — and not an executive assistant?
How to Invest Like Warren Buffett (Fox Business)
Berkshire Hathaway chief executive Warren Buffet is widely considered to be one of the world’s wisest and most successful investors. Even if you don’t have $50 billion to invest with, taking a lead from the ‘Oracle of Omaha’ can pay big dividends. A valuable perspective into Warren Buffett’s investing style can be gained by looking at the annual report of his holding company, Berkshire Hathaway, says Paul L. Sloate, president and CEO of investment management firm Green Drake Partners. In it, Buffett outlines some of the key tenets of his investing philosophy.
UW business students to meet with Warren Buffett (Kulr8)
Nineteen University of Wyoming students will have the opportunity to meet with business icon Warren Buffett.
Attending the meeting on Friday are finance students in the UW College of Business.
Warren Buffett News: Most Hated Man in America (Insider Monkey)
