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If this is true, then Buffett is scaling back his GS bet, not increasing it, despite the positive spin on both sides.

Unless he buys more shares of GS on the open market, it certainly does seem like the end result will be a smaller GS position than I anticipated. My impression from prior statements Buffett has made on the issue was that Berkshire would be exercising the warrant for $5 billion (assuming it is in the money at expiration) and holding the shares for a long period of time.
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