NEW YORK (TheStreet) -- Berkshire Hathaway's (BRK.B) deal to convert a profit on a large warrant in Goldman Sachs (GS) for roughly 2% of the company's common shares may be a subtle turning point in Wall Street's emergence from the financial crisis.
Following Berkshire CEO Warren Buffet's preferred investments in the likes of Goldman and General Electric (GE) during the financial crisis and a similar deal with Bank of America (BAC) in 2011, the 'Oracle of Omaha' is exercising a warrant contract with Goldman that will make the investment bank Berkshire's first Wall Street common stock holding in over two decades.
"We intend to hold a significant investment in Goldman Sachs, a firm that I did my first transaction with more than 50 years ago," Buffett said in a Tuesday press release announcing amended terms to the warrant, which will allow him to take a profit on the crisis-time contract in Goldman shares.
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