The Oracle of Omaha is standing by Goldman Sachs (NYSE: GS) CEO Lloyd Blankfein and he doesn't plan to cash in his warrants anytime soon.
At the annual Allen & Company conference, when asked by New York Times DealBook if Mr. Blankfein would resign anytime soon, Warren Buffett said, "I don't think he is. I've seen nothing to indicate that myself, and I don't want him to." Buffett wants him to stay on.
Buffett also plans to hold onto the warrants he received in connection with his $5 billion 2008 investment in the company right up until they expire in 2013.
"We'll wait till the last month or two, before their expiration," he said.
The warrants, which have a $115/share strike, are worth approximately $900 million based on Goldman's current market price of $135, DealBook notes. Read More
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