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Question: Conversion of Stock Warrants: Warren Buffett and Goldman Sachs (Easy) In September 2008, in the midst of the credit crisis on Wall Street, Goldman Sachs invited Warren Buffett, the legendary fundamental investor, to contribute much-needed equity capital to the firm. Buffett seemingly got a very good deal. For a $5 billion cash infusion, he received perpetual preferred equity shares carrying a 10 percent dividend (redeemable by Goldman Sachs) plus warrants to buy 43 .5 million common shares at $115 per share (for a total of another $5 billion). The $115 conversion price was set at the current share price, a three-year low for Goldman. In June 2011 , Goldman shares traded at $136 each. If Buffet exercised the warrants at that price, what is the loss to Goldmans shareholders?
You are the owner and operator of Grains Plus located at Bathurst NSW. The rain during the spring have been the best in a decade and you are expecting.
crystal glass recently paid 3.60 as an annual dividend. future dividends are projected at 3.80 4.10 and 4.25 over the
the total cost for the new capital totals 718000 with installation costs of 5000. inventories will increase by 6500
Compute the initial price of a swaption that matures at time t=5 and has a strike of 0. The underlying swap is the same swap as described in the previous question with a notional of 1 million.
Why do managers of financial institutions care so much about the activities of the Federal Reserve System?
Assume that banks desire to continue holding the same ratio of excess reserves to deposits. What is the reserve requirement and the reserve ratio for Tazian Banks?
a manufacturer of precision measuring instruments claims that the standard deviation in the use of the instruments is
A firm can lease a truck for 3 years at a cost of $48,000 annually. It can instead buy a truck at a cost of $98,000, with annual maintenance expenses of $28,000. The truck will be sold at the end of 3 years for $38,000.
Assume a direct positive impact of inflation on the prevailing rates (Fisher effect) and answer the following questions. What is the net present value (NPV) of the investment under the current required rate of return? What is the net present value (N..
Java Corporation is trying to select the best investment from among four alternatives. Each alternative involves an initial outlay of $100,000. Their cash shows follow: Compute and rank each alternative based upon:
You plan to receive annual payments of $4,000 at the end of each year for ten years. The first payment will be received in year 3. What is the present value of these payments if the discount rate is 9 percent?
Use a decision tree to analyze the problem. You can make some simplifying decisions: - the game would essentially be over if the Patriots made a first down.
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