Warren Buffett's annual letter to Berkshire Hathaway shareholders will be released Saturday morning at 8 am ESTBerkshire class A shares have dropped 44% in the past year
Berkshire is expected to report quarterly operating earnings of $1,486.50 per Class A share
Within the past year, Buffett bought $5 billion in the preferred stock of investment bank Goldman Sachs Group
He also invested $3 billion in preferred shares issued by General Electric Co.
The deals came with warrants that give Berkshire the right to buy 43.5 million Goldman shares at $115 each and 134.8 million shares of GE at $22.25 each. These contracts expire in October 2013
Goldman and GE are paying Berkshire 10% a year in dividends for five years
Berkshire also recently invested in bonds issued by companies including Tiffany & Co. and Harley-Davidson Inc. These securities pay 10% to 15% a year.
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