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Page last updated at 17:47 GMT, Monday, 26 October 2009

Buffet on Goldman Sachs deal

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One of Warren Buffett's favourite sayings about the market is "be greedy when others are fearful and fearful when others are greedy".

When the market was fearful last September, Mr Buffett was greedy, putting $5bn (£3bn) into the investment bank Goldman Sachs on favourable terms.

He says he was only able to negotiate the deal because not many people had $5bn to hand at that particular moment.

The Money Programme special 'The World's Greatest Money Maker: Evan Davis meets Warren Buffett', Monday, 26 October, on BBC Two at 2100.

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