Prince Alwaleed talks Goldman Sachs, Citi and markets
Posted on 28 April 2010 with 3 comments from readers
Last weekend Bloomberg television interviewed the legendary Arabian investor Prince Alwaleed on the eve of the Goldman Sachs appearance before the Senate committee. His reflections on the realities of being a financial investor are interesting.
However, another recent investigation published on Bloomberg concluded that the prince has some very large ‘unrecognized losses’ pending in his accounts. If these are realized them some of his mystique as an investor will be broken. Already his performance over the past decade is just not in the same league as Warren Buffett.
Prince Alwaleed may have made and lost his mega fortune on Citi stock. Buying cheaply when Citi was in trouble in the early 90s made his billions but keeping this stock position has cost him dearly in the recent financial sector meltdown. This is not necessarily the end of the road for this Saudi Arabian super-investor but his best days might well be behind him.
3 Comments posted by readers:
any one seen Lie to Me??
guess we can read his face now,, so people,, what do you think he was telling?
It will be hard to lose as much money as he is making on all those oil wells. 5,000 barrels a day X $ 80 a barrel = $400,000 PER WELL, PER DAY ! Sure it’s not all profit, but MOST of it is. That adds up fast. No, very fast.
The Federal Reserve just let rates remain unchanged, and probably will for the rest of the year. And the market is back on the way up. Watch it end up for the week again. The bubble blowing will continue. Look out when it pops the next time.
He is lying. He is unloading fiancials stocks very slowly to avoid a crash before he is all out. Buy FAZ (3x short fiancials)