analyst Eric Bleeker went all the way to Nebraska to hear Warren Buffett excoriate Goldman Sachs (NYSE: GS) at the annual Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) annual meeting. But surprisingly, Bleeker came back empty. In the face of mounting public criticism and damning SEC allegations about Goldman's actions during the financial meltdown, the Oracle not only voiced his full confidence in Goldman CEO Lloyd Blankfein, he went so far as to tell investors that he believes the company will emerge from the hubbub with its reputation -- and its powerful balance sheet -- intact.

Is this just a case of a stubborn investor standing by one of his holdings, or is there something else afoot in Omaha? According to Bleeker, it turns out that because of Buffett's preferred positions, Berkshire wins whether Goldman's stock price goes up or down. And that provides some valuable insight for the rest of us.

Eric Bleeker owns shares of Berkshire Hathaway, which is a Motley Fool Stock Advisor and Motley Fool Inside Value recommendation. The Fool owns shares of Berkshire. Try any of our Foolish newsletters today, free for 30 days. The Motley Fool has a disclosure policy.