Goldman Sachs (GS) 02 (May 10 - Dec 18)

Goldman Sachs (GS) 02 (May 10 - Dec 18)

Postby lithium » Sat May 01, 2010 8:50 pm

This baby PE 6 only now, maybe can look look leh :)
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby winston » Sat May 01, 2010 9:06 pm

lithium wrote:This baby PE 6 only now, maybe can look look leh :)


The PE of 6 is assuming that they can generate the current earnings going forward.

Do you really think that they can continue to generate so much earnings in the future ?
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby lithium » Sat May 01, 2010 9:12 pm

As usual, I don't know. Just trade with the chart, let's see what's buffett going to say first.
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby kennynah » Sat May 01, 2010 9:13 pm

Buffet said he backs GS CEO 100%
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby lithium » Sat May 01, 2010 9:16 pm

Then wait till it find a support first lor, chart look terrible. :lol:
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby kennynah » Sat May 01, 2010 10:16 pm

of cos, we must remember that buffet has usd5billion invested in GS....
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby millionairemind » Mon May 03, 2010 7:15 pm

Damage control..

May 3, 2010, 7.11 am (Singapore time)

Goldman CEO acknowledges company 'role' in finance crisis


WASHINGTON - Goldman Sachs' CEO said in an interview broadcast Sunday that his company bears some blame for the real estate bubble that led to the global financial meltdown.

Asked by CNN whether he felt that the company's actions played a role in the real estate bubble that led to the crisis, Goldman chief Lloyd Blankfein answered, 'Yes.' 'We made a contribution to the bubble,' adding that executives at the company now 'beat ourselves up' for the error, although he said there was a lot of blame to go around.

'How did we make a contribution? We're a lender. We lent money to companies, we lent, we financed real estate ventures that had too much leverage, we made a contribution to leverage,' Mr Blankfein said.

'State and local governments took on debts and deficits, the federal government took on big deficits. All made a contribution to the over-leverage - and consumers over-leveraged themselves,' he said.

'But did we play a role in that? Absolutely we did,' he said.

He added: 'Did we think we were doing that at the time? No. In hindsight? Yes. Should it have been more clear?' Mr Blankfein asked.

'We beat ourselves up for that.'

Goldman has been roundly berated for having emerged a highly profitable winner in the wake of the financial crisis, while many of its investors took major losses.

Mr Blankfein's concession came just days after a contentious congressional hearing last week at which he and other current and former Goldman employees denied any wrongdoing after a Senate investigation found the firm bet heavily against the housing market in 2007 without telling investors who were buying its mortgage-backed securities.

News reports said last week that Goldman is under criminal investigation by US federal prosecutors trying to determine whether it committed securities fraud in connection with its mortgage trading.

Mr Blankfein also told CNN that his humble upbringing helped him understand the human dimension of the scandal, which has sullied the investment giant's once sterling reputation.

'I grew up in public housing. My dad, for most of my life, worked for the post office, which was a terrific job to get because you couldn't lose your job,' he said.

'Before he got that job, he had lost his job and I remember, one of my earliest memories, memories was my own dad being unemployed and the insecurity I felt,' Mr Blankfein told CNN.

'I think about it all of the time,' he said, adding that his father died about 20 years ago.

'I look in my mirror and the older I get the more I look like my dad everyday.

'I think that is a huge advantage to me in my life to have that, I think it's been a huge advantage to me in my life to have come up (with) that kind of, those kinds of stresses and strains,' Mr Blankfein said. -- AFP
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby millionairemind » Wed May 05, 2010 9:41 am

May 5, 2010
Goldman Sachs and regulator ‘in talks’ on fraud deal
Alexandra Frean, US Business Correspondent

Goldman Sachs was reported last night to be considering settlement talks with the US regulators over the fraud charges brought against it last month.

The reports came as the firm’s equities division was fined $450,000 for violations of regulations on short selling in 2008 and 2009 in what has now become a daily war of attrition by regulators against the bank.

Neither Goldman nor the US Securities and Exchange Commission would comment on the likelihood of settlement talks over the fraud charges filed on April 16, which relate to a complex mortgage-related product that lost two investors $1 billion.

Goldman executives are understood to believe that the SEC’s case is without merit, but the firm is thought to be keen to avoid a battle with regulators and Charlie Gasparino, of Fox Business Network, reported that it may be prepared to agree to lesser charges and a fine. Goldman shares, which dropped by 9.4 per cent last Friday, rebounded and rose by 1.5 per cent to $151.77.

The bank has been downgraded by two analysts, who cited the difficulty of predicting the outcome of the bank’s legal problems, which include actions brought by shareholders furious about the $21 billion (£13.8 billion) wiped from Goldman’s value since the fraud charges were filed.

Mark Rifkin, a securities litigator in the New York law firm Wolf Haldenstein Adler Freeman & Herz, said: “A settlement of the enforcement action gives Goldman Sachs a chance to put its regulatory problem behind it and assert real leadership in the investment banking profession. It also gives the SEC an opportunity to address the multiple conflicts of interest that led to the problem in the first place.”

Meanwhile, Goldman’s marketmaking unit was censured and fined $450,000 after the SEC and NYSE Regulation found hundreds of violations in its processing of short trades in December 2008 and January 2009.

Goldman agreed to pay each regulator $225,000 without admitting wrongdoing. The firm blamed a processing error and said it had had no financial effect on clients.
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby LenaHuat » Wed May 05, 2010 9:53 am

kennynah wrote:of cos, we must remember that buffet has usd5billion invested in GS....


And GS earns Buffett $15 every second. Tick, tick ,tick, it is $15 every second. He can't possibly drop this baby.

I'm waiting for GS to make a fatal mistake like Michael Jackson, that is settling the SEC charge instead of wrestling with a anoconda snake. Settling with SEC will irreparably damage GS, IMHO. Looking at Blankfein, I don't think he's got the perseverance to fight a bruising battle, uncloaked before the batteries of media. In fact, he might just leave in a year's time. These greedy banksters don't last. They hardly do. They grab and leave unless they are a megalomaniac like Fuld of Lehman Bros.
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby kennynah » Wed May 05, 2010 11:40 am

In fact, he might just leave in a year's time.


word is...he may leave within 5 months...

in the last 3 years...he probably made so much money, he can just fish for leisure for the rest of his life and need not work for $$ for another day... so, why take this heat? moreover, historically, he has always shunned public appearances...and now, he is aimed by press cameras every corner he goes to..
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