Goldman Sachs to report 2nd best quarter in history???

Rumour? Not a bad part in the cycle for a wee bit of pump and dump.

Looks like the rumour wasn’t too far off. The 5 bn offering that it is holding will prevent the market running it up though although a lot of people will be happy to see they are going to get out from under the government umbrella. Should lift the broader market in the short term.
Interesting day tomorrow.

They must have placed some very big bets in the last 3 months.

marketwatch.com/news/story/CORRECT-Goldman-Sachs-swings-profit/story.aspx?guid={1D648B3A-A05E-462D-ABDA-8FF4E65F95D2}

Is that a rights issue? Does that dilute their shares?

Id imagine their only reason for pulling out of TARP is because of the limits on executive pay. They took the free money when there were no strings attached but, now that Obama has put strings on it, they want out.

Its seems like they are trying to take out the quant funds…

zerohedge.blogspot.com/2009/04/incredibly-shrinking-market-liquidity.html

…and looks like we are due for a 10% plus ‘correction’ any day now…

Isn’t it funny that when rumours of dodgy dealings,sharp practices,downright fraud and general market manipulation surface,one name keeps coming up…

GOLDMAN SACHS

max keiser is going to have a field day with this. It looks as if GSachs staged a coup a few years ago and now call the shots on everything, interest rates, leveraging , bailouts, the price of gold etc.

At least ireland is in good company with the US and UK :unamused:

What is Max Keiser’s track record with regard to predictions?

well he was a bit off on gold hitting 2k in December :laughing: , although he was sayiing buy gold for years so u would have been well up listening to him

other than that hes more or less in the same boat as Schiff/faber/rogers/celente, riots everywhere in the US, total collapse , hyperinflation, US$ worthless etc , time will tell i suppose

Yeah, that’s kind of what I thought. I remember reading here a prediction about two months ago that US shares were on the verge on an imminent 50% collapse - I can’t remember if it was one of the people you mentioned, it might have been Schiff or someone else. Anyone that took massive short positions on the basis of that kind of prediction at that point would be looking a mite silly right now, as the DJ is more or less were it was in early February.

I don’t really trust the judgement of the sky-is-always-falling-in-brigade, to be honest.

Roubini is I think a commentator that is mostly right, and demonstrably so, I would differentiate between guys like Roubini and those commentators you mentioned.

uh hmm, they actually missed earnings…

Goldman stock is back at $130. I recall any pinsters were julilant when it fell below $60 last year.

What’s Goldman’s secret?

Simple. Hire the best and put them in the right places.

Ireland needs to learn this simple lesson.

Yeah, place them in the Treasury and branches of the central bank who, in turn, invite the current Goldminer’s management into the most intimate decision making processes at national level; hand over large wads of tax payer’s money; funnel funds through various central bank conduits; gaurantee their counterparty losses, again curtesy of the tax-payer, and so on.

Oh yeah, they get the govt to change FASB accounting rules to hide loses, and they still don’t have to mark-to-market certain loss making assets.

Wow, things are just great. We need to get a bit of this here.

Let the game begin anew.

No, the first poster was right. Goldman are the only 2004 SEC exemption investment bank left standing because they were the only one were senior management actively contemplated contrarian strategies when things started to go wrong in 2007. So when everything went tits up in early 2008 they were the first IB to recognize that the game had changed fundamentally and had already fully worked out how to deal with this new sceanrio. So they were able to turn on a dime, cash in their chips, bet against all the other players, and survive.

Nah, couldn’t be that. It’s a conspiracy. Involving Jews and Lizards.

Simple. Hire the best and put them in the right places. :open_mouth: :open_mouth: :open_mouth: :open_mouth: :open_mouth:

I assume you meant hire the best politicians didn’t you?Tell me that’s what you meant Bungaloid.

I still read this as an all or nothing bet for GS.
If it works out, like it has, GS are free from the clutches of the government if it doesn’t the government just bails them out.

There’s no doubt that Goldman has anticipated the changes that have happened better than the other investment banks. They were obviously prepared to entertain the warnings that the fringe were giving at the time (2007). They hedged their bets and then hedged the people who were holding their hedges. It does appear that much of this was to AIG. This leads to the question: was it ethical? I would say yes. Goldman are not regulators. It is not their responsibility to say that a company is taking on too much risk. So I don’t think Goldman have done much wrong in their dealings with AIG.

For me, questions still remain whether they are front-running their brokerage activities - whether they are placing bets on their own account based on what their retail account investors are doing. Personally, I don’t see that investment banks and brokerage houses sit well together. I’ve worked in companies that were supposed to have chinese walls. If they work well, the company is in chaos with no-one talking to anyone else. If they work badly, only the things that shouldn’t pass through do. So, in my view, they are fundamentally unworkable and no company should expect that someone who is performing a service for them not to use the knowledge that they gain by performing that service.