Has Warren Buffett just called the bottom of the market? His stunning $5 billion investment in Goldman Sachs and recent reports that he may be buying more shares of Wells Fargo at a time the financial markets are in turmoil suggests that he has. It reflects "one of the biggest expressions of confidence in the financial system since the credit crisis intensified early this month." according to the Wall Street Journal.
Berkshire Hathaway's $5 billion investment in Goldman may put the firm on a sounder footing, but Warren Buffett once again got a sweet deal. Characteristically, Mr. Buffett's investment gives him an attractive income stream, downside protection and the strong chance of big gains.
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